ITR Belated FY 19-20 AY 20-21

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Student
74 Points Posted on 11 January 2021
Dear Sir
last date of ITR is 10 jan 2021. if i filed individual ITR income below 5 lakh after this date. Is their any penalty imposed on ITR. Or any late fees?
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On 11 January 2021 at 11:06 Report
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Quick Summary
This discussion clarifies the late filing of Income Tax Returns (ITR) for the Financial Year 2019-20 (Assessment Year 2020-21) after the January 10, 2021 deadline. It explains that a late fee of Rs. 1000 under Section 234F is applicable if your income is between Rs. 2.5 lakh and Rs. 5 lakh. However, if your declared income is below Rs. 2.5 lakh, no penalty is imposed, provided you are otherwise required to file.

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Bhopal
100 Points Posted on 11 January 2021
Rs. 1000 u/s 234F
1 Reply
On 11 January 2021 at 11:15
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Student
74 Points Posted on 11 January 2021
So, that amount should be paid when filling the return??
and what if i show basic income below 250000 ?
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On 11 January 2021 at 11:18
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Bhopal
100 Points Posted on 11 January 2021
If income below Rs. 250000 no provision of penalty apply till month of March 2021. but as per my above answer assume income 250000 to 500000
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On 11 January 2021 at 11:22
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Student
74 Points Posted on 11 January 2021
Okay..thnkz for your reply
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On 11 January 2021 at 11:24
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Chartered Accountant
24588 Points Posted on 11 January 2021
Late fee will be imposed for 1000 rupees
1 Reply
On 11 January 2021 at 12:24
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17269 Points Posted on 12 January 2021
If you declare gross income below 250000/- but you are otherwise required to file ITR then penalty of 1000/-.
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On 12 January 2021 at 12:44
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Chartered Accountant
86505 Points Posted on 23 January 2021
You have to pay late fee Rs.1000 u/s 271 F
2 Reply
On 23 January 2021 at 22:57

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