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Procedure of assessment.
what if the assessee files his ROI after the due date?
Replies (3)
Quick Summary
Sec 234 has various provisions, those will be invoked.
Can u plzz elaborate sec. 234?
As Per Section 234A Simple interest @ 1% per month is leviable if furnish return after due date.
As per Section 234F (Late fee) for filing return after due date
1. if Income below Exemption limit than late fee is ZERO
2. if income more than basic Exemption limit but total income less than 5,00,000 than late fee will be "Rs. 1000"
3. if total income more than 5,00,000 than late fee will be Rs. 5000 / 10,000 as the case may be
As per Section 234F (Late fee) for filing return after due date
1. if Income below Exemption limit than late fee is ZERO
2. if income more than basic Exemption limit but total income less than 5,00,000 than late fee will be "Rs. 1000"
3. if total income more than 5,00,000 than late fee will be Rs. 5000 / 10,000 as the case may be
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