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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
Replies (4)
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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
129 Reply
On 09 January 2021 at 20:57
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17264 Points Posted on 09 January 2021
Of course yes, to that extent your refund will be less.
101 Reply
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
19 Reply
On 09 January 2021 at 22:02
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17264 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.
101 Reply
On 11 January 2021 at 11:37


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