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Section 234f

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157 Points Posted on 24 September 2020
if a person has 10lakh agriculture income and it is the only income of a.y 19-20. so, now if we file itr of a.y 19-20 , whether 234f attracted?
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On 24 September 2020 at 22:54 Report
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34 Points Posted on 24 September 2020
Yes, for filing ITR 234f will be attracted
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On 24 September 2020 at 23:19
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157 Points Posted on 24 September 2020
But as per 234f if total income exceeds maximum amount chargeable to tax then he is liable to pay penalty under 234f. but in my case whole income is exempt.
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On 24 September 2020 at 23:23
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CA Practice
184 Points Posted on 24 September 2020
234 F will not attract.
1 Reply
On 24 September 2020 at 23:25
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B.Com
136 Points Posted on 25 September 2020
I think, if total income is upto 5 lakh then there Rs. 1000 penalty. In your case the total income is 0, but still if you file the return after due date penalty of 1000 will be attracted
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On 25 September 2020 at 00:54
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Profession Business
28202 Points Posted on 25 September 2020
Agricultural income is not taxable as such.
44 Reply
On 25 September 2020 at 09:25
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CA Practice
184 Points Posted on 25 September 2020
Fee for default in furnishing return of income.

234F. [1] Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section [1] of the said section, he shall pay, by way of fee, a sum of,—
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On 25 September 2020 at 16:10
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Tax and Business Consultant
11616 Points Posted on 28 September 2020
@ Mr. Vikas Mahajan

If a Person has 10 Lakh (or let's say 1 Crore) Agriculture income and it is the only income of A.Y 19-20. And if now, you file ITR of A.Y 19-20, than ther is "NO LATE FEE" u/s 234F as your total income is Exempt from tax...
66 Reply
On 28 September 2020 at 00:10
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157 Points Posted on 28 September 2020
Thank u @ sagar patel
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On 28 September 2020 at 07:03
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Tax and Business Consultant
11616 Points Posted on 28 September 2020
Most welcome.......
66 Reply
On 28 September 2020 at 08:45
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BUSINESS DEVELOPMENT MANAGER
1697 Points Posted on 20 March 2022

As per section 234F of the Income-tax Act, taxpayers must pay a penalty for delay in filing ITR. In simple words, if you fail to file your tax returns within the deadline for the current year i.e., 31st of December, you might end up paying up to INR 5,000 as penalties.

2 Reply
On 20 March 2022 at 23:20


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