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Penalty for late IT return for individuals

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Haresh Niwas near mahan apartment Ulha
29 Points Posted on 23 July 2018
Is the Penalty of Rs. 10000 is chargeable if income of individual is below 250000 for belated return?
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On 23 July 2018 at 11:52 Report
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69 Points Posted on 23 July 2018
penalty levy only if income is taxable ie.. above 250000
but if it is less than 250000 then not mandatory to file itt.
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On 23 July 2018 at 12:10
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Haresh Niwas near mahan apartment Ulha
29 Points Posted on 23 July 2018
what if we want file the return after 31 july but income is below 2,50,000?
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On 23 July 2018 at 12:26
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69 Points Posted on 23 July 2018
Aditya their is only taxable income provision under section 234f and exception to that is if income is less than 500000 then only 1000 fine. if more than 500000 then 5000 or 10000 as the case may be
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On 23 July 2018 at 12:29


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