Late fees u/s 234F

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103 Points Posted on 09 January 2021
can late fees u/s 234F, set-off against income tax refund amount??
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On 09 January 2021 at 20:44 Report
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This discussion clarifies whether late fees under Section 234F of the Income Tax Act can be adjusted against an income tax refund. While some users suggest it can be set off, reducing the refund amount, others state it cannot be adjusted and must be paid separately. If no refund is due, the late fee is payable either online or via challan.

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Chartered Accountant
24588 Points Posted on 09 January 2021
No late off cannot be adjusted. It has to be paid compulsory if return had been filed after due date
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On 09 January 2021 at 20:57
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17269 Points Posted on 09 January 2021
Of course yes, to that extent your refund will be less.
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On 09 January 2021 at 21:52
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Accountant
4533 Points Posted on 09 January 2021
Yes it can be adjusted provided there is a refund otherwise we have to pay in cash
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On 09 January 2021 at 22:02
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17269 Points Posted on 11 January 2021
If no refund then 234F Penalty is payable. Either online payment or by way of cheque / cash payment along with challan ITNS 280 into authorised bank.
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On 11 January 2021 at 11:37

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