ACA ACMA
582 Points
Joined July 2016
Penalty of Rs.1,000 /- will be levied.
"234F. Fees for default in furnishing return of income.—(1) Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section (1) of said section, he shall pay, by way of fee, a sum of,—
(a) |
|
five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year; |
(b) |
|
ten thousand rupees in any other case: |
Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.