Late fees u/s 234F

09 January 2021

can late fees u/s 234F, set-off against income tax refund amount??

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4 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 09 January 2021

No late off cannot be adjusted. It has to be paid compulsory if return had been filed after due date

Kapadia Pravin (17264 Points)
Replied 09 January 2021

Of course yes, to that extent your refund will be less.

Krishna Chaudhary (Accountant) (4531 Points)
Replied 09 January 2021

Yes it can be adjusted provided there is a refund otherwise we have to pay in cash

Kapadia Pravin (17264 Points)
Replied 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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