Menu
ITR filing 234F
In case A person file his income tax return with an income less than Rs. 250000/- tomorrow .... whether he will B liable to pay penalty under 234F?
Replies (6)
he will be libale to fees of 1,000 if he reported his gross total income more than 2,50,000
Yes he is liable to pay penalty of rs 1000.for itr after due date
Upto taxable income 5 lakhs, the late fee is 1000/- compulsory under 234F
No... Penalty not levied if income less than 2.5 lakhs.
sec 234F is levied to who is required filings u/s 139(1) of IT act.
sec 234F is levied to who is required filings u/s 139(1) of IT act.
If under 139(1) not required to file then don't file and so no 234F late fee.
But if you still want to file even though not required then late fee penalty is 1000 upto a taxable income of RS 5 lakhs.
This is the interpretation ITax department considers
But if you still want to file even though not required then late fee penalty is 1000 upto a taxable income of RS 5 lakhs.
This is the interpretation ITax department considers
Agreed with Mr Raja .
Recent Topic
- RSU and Schedule FA related
- ELIGIBILITY FOR COMPOSITION SCHEME
- Doubt regarding the purpose of Section 52(3) of Co
- 112 A Filling
- Long Term Capital Loss in ITR2
- LOAN INTEREST BENEFIT ON NEW TAX REGIME
- Retirement funds under new tax regime
- GTA Annexure V Non Compliance
- Calculation of Demand due to interest u/s 220(2)
- Legal profession business code in section 44ADA
Related Topics
CAclubindia
