Late fees on IT return

This discussion clarifies the late fees applicable when filing an Income Tax (IT) return after the due date, specifically under Section 234F. For the financial year 2018-19, if your income is below Rs. 2.5 lakhs, no penalty is typically charged. However, for incomes exceeding this threshold, a late fee of Rs. 1000 or Rs. 5000 may apply depending on the filing circumstances and when the disclosure is made.