Applicability of late filing fees u/s 234f.

Ketan Lathia (CA Practice ) (125 Points)

25 June 2018  

The late filing fees u/s 234F of the Income Tax Act, 1961; introduced w.e.f. AY18-19 is applicable if the return is filed beyond specified due dates. But will the same be applicble in the following scenarios where the return is filed beyond the applicable due dates:-

1. Where the assessee has income below the Basic Exemption Limit and is filing a voluntary return of income.

2. Where the assessee has income above Basic Exemption Limit but the net tax payable is NIL after claiming rebate u/s 87A.

3. Where the assessee's Net Tax Liability is NIL after claiming credit of TDS and Advance Tax paid.