Penalty limit

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9 Points Posted on 11 January 2021
i want to file itr (income is less than 250000) for AY 20-21. is my ITR is liable to pay penalty of ₹1000??
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On 11 January 2021 at 22:26 Report
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Quick Summary
If your gross total income is less than £250,000 for Assessment Year 20-21, you generally won't face a £1000 penalty for filing your Income Tax Return (ITR). This applies even if you're filing a few days late. However, be aware that specific circumstances, such as being required to file under a proviso in section 139, might still incur a penalty.

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15 Points Posted on 11 January 2021
No any late fee less than 250000/-
2 Reply
On 11 January 2021 at 23:12
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Tax consultant
5895 Points Posted on 12 January 2021
No penalty but file with in two three days will be better
1 Reply
On 12 January 2021 at 00:25
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Accountant
4533 Points Posted on 12 January 2021
No penalty will levied it if gross total income is less than 2.5 lakh
2 Reply
On 12 January 2021 at 00:46
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17269 Points Posted on 12 January 2021
No penalty if gross income below 250000/-. However if you are required to file return under a proviso in 139 , penalty is levied .
1 Reply
On 12 January 2021 at 10:09
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Chartered Accountant
24588 Points Posted on 12 January 2021
No late fees will be imposed in your case
1 Reply
On 12 January 2021 at 18:22
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Accountant
4533 Points Posted on 13 January 2021
No penalty if gross total income is below 2.5 lakh
1 Reply
On 13 January 2021 at 07:50

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