can late fees of Rs 5000 be applicable to Nil return... if filled after 31 Aug 2019.
7 Replies
Kapadia Pravin
(17259 Points)
Replied 01 September 2019
No late fees in case of Nil return but if Gross total income is more than basic limit then yes for latest fees.
Gross total income means income before chapter VA deductions.
Gross total income means income before chapter VA deductions.
pooja
(taxpracticing)
(269 Points)
Replied 01 September 2019
no dear...... I think late fee shall be applicable for all taxpayers including who file nil return also..... please make sure
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 01 September 2019
Late Fee applicable based on "Taxable Income"s value. It's not consider Nil Return or Payment return.
So, Show/Say Your incomes details as per Computation @ Naresh Khanduri...
So, Show/Say Your incomes details as per Computation @ Naresh Khanduri...
RUDRA
(Income & Corporate Tax Lawyer)
(383 Points)
Replied 01 September 2019
There is no late fee for those taxpayers who file their return under basic limit means below 2.5L The late fee will only levy when you cross the basic limit.
rama krishnan
(12239 Points)
Replied 01 September 2019
if you don't have taxable income then there's no late fees, but if your total income exceeds 2.5 l but below 5 l, then you need to pay minimum 1000 as late fee
Kapadia Pravin
(17259 Points)
Replied 03 September 2019
Repeating ....
No late fees in case of Nil return but if Gross total income is more than basic limit then yes for latest fees.
Gross total income means income before chapter VA deductions
No late fees in case of Nil return but if Gross total income is more than basic limit then yes for latest fees.
Gross total income means income before chapter VA deductions
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