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Fees for late filing u/s 234F

18 August 2018

If an individual file a loss return with a delay. Is fees under sec 234F applicable for him?? As he is incurring losses and do not require to file return u/s 139(1).

Thanks!!

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5 Replies

Piyush Shirodkar (CA Final Student) (1358 Points)
Replied 18 August 2018

In case of loss, 234F will not be applicable.
234F is applicable only if there is a tax liability.
And in order to carry forward the loss, you need to file within due date.

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Rishabh Jindal (29 Points)
Replied 18 August 2018

Hi! thanks for the answer.
Just one more thing. Would your answer be different if Assessing officer disallows some expenses under PGBP and my income exceeds the exemption limit afterwards. Will he raise demand after considering fees under 234F.

Piyush Shirodkar (CA Final Student) (1358 Points)
Replied 18 August 2018

Fees u/s 234F is applicable only for original return if filed after due date. For revised return and demand notice by assessing officer, fess u/s 234F won't be applicable.
Yes if the income exceeds above exemption limit, demand will be made by assessing officer but that won't include fee u/s 234F.

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RAJA P M ("Do the Right Thing...!!!") (127962 Points)
Replied 18 August 2018

Sorry for the different view...

As per above query 1st of the query is not cleared and no more clarity in that query...

But,
As per sec 234F if Gross Total Income exceeding BEL then it's levied after filing due date...