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Penalty for late filing of ITR

Vineet Agarwal (20 Points)

22 July 2018

If income is below Rs. 250000/-, there is any penalty for filing of ITR after 31/07??????

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RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 22 July 2018

No... If Your Gross Total Income is BEL then no penalty as per sec 234F...

*Gross Total Income means before all deductions.

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rama krishnan (12244 Points)
Replied 22 July 2018

attn Mr. raja... please could you post the relevant excerpt from 234F, wherein it'smentioned that no late fee if gti below 2.5 lakhs

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 22 July 2018

Please read sec 234F with sec 139(1)

Vinod Babu (24196 Points)
Replied 22 July 2018

Insertion of new section 234F.

76. After section 234E of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely:—

"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.

(2) The provisions of this section shall apply in respect of return of income required to be furnished for the assessment year commencing on or after the 1st day of April, 2018.".

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 22 July 2018

Originally posted by : Vinod Babu
	Insertion of new section 234F.76. After section 234E of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely:—"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.(2) The provisions of this section shall apply in respect of return of income required to be furnished for the assessment year commencing on or after the 1st day of April, 2018.".

Enna solla varreenka Vinod?

Vinod Babu (24196 Points)
Replied 22 July 2018

Give the link for no penalty as per sec 234F.

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 22 July 2018

what link...? or which link...?

Vinod Babu (24196 Points)
Replied 22 July 2018

Please read by last reply.

As per the sec 234F, I did not find the word no penalty for late filing.

So provide the link of the sec234F stating no penalty for late filing returns as told by you in above reply.

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 22 July 2018

Already you post the sec then why you want the link... Read the sec with some of the other sections as per above...

If you don't have then Pls go to search in Google...

RAJA P M ("Do the Right Thing...!!!") (128111 Points)
Replied 22 July 2018

ஏன்பா 10/ 20 பேரு அக்கவுன்ட் ஒப்பன் பண்ணி லைக் போட தெரியுது,... எல்லா போஸட்லயும் போயி அக்ரீடு, அப்ஃஎரிப்ளைதெரியும் செக்ஸன் படிக்க வராதா...? போ போயி வேற ஏதாவது வேலை இருந்தா பாரு... இல்லைனா வெய்ட் பண்ணு யாராவது போடுவாங்க....

Vineet Agarwal (20 Points)
Replied 22 July 2018

As per my knowledge......
as per sec 234F penalty for late filing is charged on the assesses who are required to file return u/s 139 and as per sec 139 only those persons are required to file return whose income is above rs 250000/- so persons whose income is less than 250000/- are not covered u/s 139 therefore no penalty is leviable on the persons whose income is less than rs 250000/-
Required your views about it....

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