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Penalty on itr filing

Others 315 views 2 replies
Sir I am an Accountant and want to know that how many penalty will be imposed on profit less than the 3.00lac
Replies (2)
Query is not cleared.
But, If You are asking about ITR after due date then penalty Rs 1k upto 31st December
Query is not cleared...

Interest ( u/s 234A ) @ 1% p.m. or part of the month from the day immediately following the due date of return and Late Fees ( u/s 234F ) of Rs. 1,000 ( if Total Income of the assessee is upto Rs. 5,00,000 ) will be levied if ITR not filed within due date ( i.e. 31.08.2019 ) for AY 2019-20.

TOTAL INCOME OF THE ASSESSEE :

a). Upto Rs. 5,00,000.
b). More than Rs. 5,00,000.

AMOUNT OF FEES u/s 234F of the INCOME TAX Act 1961 :

a). Rs. 1,000/-
b). Rs. 5,000 ( upto 31st December ) / Rs. 10,000 ( other case ).


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