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Late Fee Under Income tax act
If Income 260000 then penalty applicable on such income or not? as per u/s234f
Replies (2)
yes off course...
Where income exceeds Rs 2.5L without giving effect to deductions u/s 80C, then liable for late fees u/s 234F. If Gross total income is less than 2.5L then there should be no late fees
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