As we all know, late filling fees for ITR are applicable from FY 2017-18. Do the fees of Rs. 1000 is levied even for NIL returns? Also, unlike penalty, do the above fees are mandatorily levied for every late filling case?
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Itr late filling fees for fy 2017-18
Replies (1)
Yes, for all time barred ITRs.
New section 234F in the Act to provide that a fee for delay in furnishing of return shall be levied for assessment year 2018-19 and onwards in a case where the return is not filed
within the due dates specified for filing of return under sub-section (1) of section 139.
The proposed fee structure is as follows:—
(i) a fee of five thousand rupees shall be payable, if the return is furnished after the due date but on or before the 31st day of December of the assessment year;
(ii) a fee of ten thousand rupees shall be payable in any other case.
However, in a case where the total income does not exceed five lakh rupees, it is proposed that the fee amount shall not exceed one thousand rupees.
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