dear
sir
if now filed income tax return penalty 5000 is applecable
5 Replies
Dhina
(Executive Finance)
(59 Points)
Replied 09 September 2018
penalty will be applicable as per the net income less than 5lakhs penalty will be 1000rs. unless penalty will be 5000ra
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 09 September 2018
Let’s understand the quantum of fee that would be payable under section 234 F on the following income and return filing date through an example :
| Total Income | Income Tax Return Filing Date | Fees 234F |
|---|---|---|
| 3,00,000 | 05/07/2018 | NA |
| 6,00,000 | 31/07/2018 | NA |
| 10,00,000 | 25/07/2018 | NA |
| 25,00,000 | 10/08/2017 | 5,000 |
| 4,00,000 | 10/01/2019 | 1,000 |
| 9,00,000 | 15/10/2018 | 5,000 |
| 4,50,000 | 13/11/2018 | 1,000 |
| 18,00,000 | 15/02/2019 | 10,000 |
(Guest)
The due date of filing Income Tax returns for Financial Year 2017-18 (Assessment Year 2018-19) is 31/08/2018 for salaried taxpayers.
The fee (penalty) will be as follows:
Total Income Return filed Fee (Penalty)
Exceeds Rs. 5 Lakh On or before 31st December of Assessment Year but after due date Rs. 5,000/-
In any other case Rs. 10,000/-
Upto Rs. 5 Lakh After due date Rs. 1,000/-
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