234F late fee
Arvind (Student) (36 Points)
29 October 2022
234F late fee for file IT returns AY 2020-21 & AY 2021-22
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(172491 Points)
Replied 29 October 2022
For Filing ITR of AY 2020-21 & 2021-22 Sec. 139(4) of IT act is not applicable, & so also sec. 234F of IT act...
For details of late fees u/s. 234 F Click on this
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(172491 Points)
Replied 29 October 2022
But for filing the sale ITR u/s. 139(8a) of IT act...... penalty is levied as below...
1. If the updated return is being filed within 12 months from the end of the relevant assessment year, then an additional income tax of 25% and interest thereon shall be payable.
2. If the updated return is being filed within the period of 13 months to 24 months from the end of the relevant assessment year, then an additional income tax of 50% and interest thereon shall be payable
Eswar Reddy S
(CFO- at NHTF)
(58263 Points)
Replied 30 October 2022
Arvind
(Student)
(36 Points)
Replied 31 October 2022
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(172491 Points)
Replied 31 October 2022
Had you filed these returns earlier?
Or it is to be filed first time?
Eswar Reddy S
(CFO- at NHTF)
(58263 Points)
Replied 31 October 2022
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)
CAclubindia
