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Penalty for late filing of ITR

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Student CA IPC / IPCC
49 Points Posted on 26 August 2018
Hi,

Will penalty under section 234F be levied if the return is filed after 31st August 2018 and the total income is below the basic exemption limit.
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On 26 August 2018 at 22:10 Report
Replies (3)
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Accountant
3479 Points Posted on 26 August 2018
Yes, you are liable to pay late fees of Rs 1000, if return file after 31.08.2018
9 Reply
On 26 August 2018 at 22:56
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"Do the Right Thing...!!!"
128147 Points Posted on 26 August 2018
If Gross Total Income is BEL then the sec not levied...

GTI = All the Incomes before any deductions.
463 Reply
On 26 August 2018 at 22:57
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12244 Points Posted on 27 August 2018
no late fees will be levied, if the gross total income is below taxable limit but if the taxable income (after eligible deduction) is below taxable limit, late fee will be levied
35 Reply
On 27 August 2018 at 01:19


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