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Late fee for FY 2021-22

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Kishore Nuthalapati

Accountant for multiple small entities

171 Points Posted on 14 February 2023

Hi Experts

good evening

Could someone please advise how much late fee can be charged for a nil return pertains to Financial year 2021-22 if it is filed in February 2023

Thanks in advance

Replies (3)

Quick Summary

This discussion clarifies the late fee applicable for a nil return for the financial year 2021-22, filed in February 2023. It distinguishes between GST and Income Tax regulations. For GST, the late fee is typically Rs. 20 per day, capped at Rs. 500, while for Income Tax, there's generally no late fee if income is below £2.5 lakh.

Eswar Reddy S

CFO- at NHTF

58280 Points Posted on 14 February 2023

1000/- under section 234F + interest on tax liability

CA Rashmi Gandhi

Chartered Accountant

86505 Points Posted on 14 February 2023

Whether query of for GST or income Tax???

For GST, late fee is Rs. 20 per day for each month/quarter maximum upto Rs. 500/-

For income tax , late fee is nil if income is below 2.5 lakhs.