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Income tax related

Naresh Khanduri (301 Points)

01 September 2019

can late fees of Rs 5000 be applicable to Nil return... if filled after 31 Aug 2019.

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7 Replies

Kapadia Pravin (17249 Points)
Replied 01 September 2019

No late fees in case of Nil return but if Gross total income is more than basic limit then yes for latest fees.

Gross total income means income before chapter VA deductions.

1 Like

pooja (taxpracticing) (243 Points)
Replied 01 September 2019

no dear...... I think late fee shall be applicable for all taxpayers including who file nil return also..... please make sure

RAJA P M ("Do the Right Thing...!!!") (127076 Points)
Replied 01 September 2019

Late Fee applicable based on "Taxable Income"s value. It's not consider Nil Return or Payment return.

So, Show/Say Your incomes details as per Computation @ Naresh Khanduri...

RUDRA (Income & Corporate Tax Lawyer) (381 Points)
Replied 01 September 2019

There is no late fee for those taxpayers who file their return under basic limit means below 2.5L The late fee will only levy when you cross the basic limit.

rama krishnan (12234 Points)
Replied 01 September 2019

if you don't have taxable income then there's no late fees, but if your total income exceeds 2.5 l but below 5 l, then you need to pay minimum 1000 as late fee

VIKAS SAINI (1157 Points)
Replied 01 September 2019

income up to 5 lacs then late fee only 1000

Kapadia Pravin (17249 Points)
Replied 03 September 2019

Repeating ....

No late fees in case of Nil return but if Gross total income is more than basic limit then yes for latest fees.

Gross total income means income before chapter VA deductions