Section 234F
Rohit (Fhk) (63 Points)
02 September 2019
Whether Fees u/s 234F can be waived, if yes then how?
Pranav Aggarwal
(469 Points)
Replied 02 September 2019
RAJA P M
("Do the Right Thing...!!!")
(127453 Points)
Replied 02 September 2019
Kapadia Pravin
(17249 Points)
Replied 03 September 2019
Rohit
(Fhk)
(63 Points)
Replied 03 September 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 03 September 2019
1. There is no exclusive provision in the IT which deals with the waiver of penalty under sec 234F.
2. Under sec 273A power of given to principal commissioner or commissioner to waive the penalty imposed u/s 270A sec 271(1)(iii).
3. Hence, IT authority does not have the power to waive penalty u/s 234F for late filing of Income-tax return. However, if an assessee is not required to file IT return but voluntarily files the return then no penalty is imposed on such person. If the GTI is above the basic exemption limit then it is mandatory to pay the penalty u/s 234F
4. If an assessee has not filed his return of income before the due date specified u/s 139(1) then it is mandatory on his part to pay the penalty u/s 234F.
Please correct me if the above solution has an alternative view.
CAclubindia
