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ITR A.Y. 2019-20

NARENDRA (ACCOUNTS MANAGER) (1994 Points)

29 September 2020

Repeat Question

If taxable income ( gross ) is less than 2.50 Lac for the f.y. 18-19 , whether the penalty is levied or not, if i want to file an Income Tax return ?

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10 Replies

Shreya Jain (23 Points)
Replied 29 September 2020

Yes of Rs.1000 under section 234F

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 29 September 2020

If your Gross total Income (i.e Income before Claiming any Deduction u/s 80C to 80U) is less than Rs. 2.50 Lakh, than there is "NO LATE FEE/Penalty".
For F.Y 2018-19 last date is 30th September, 2020.

J S BHAVSAR (CONSULTING) (1288 Points)
Replied 02 October 2020

Originally posted by : Sagar Patel
	If your Gross total Income (i.e Income before Claiming any Deduction u/s 80C to 80U) is less than Rs. 2.50 Lakh, than there is "NO LATE FEE/Penalty".For F.Y 2018-19 last date is 30th September, 2020.

I believe the last date for filing tax return for AY 2019-20 is now extended to 30th Nov 2020.

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 02 October 2020

Yes, it's extended to 30th November, 2020.

So Now, Due date to file Return for A.Y 2019-20 and A.Y 2020-21 both are 30th November, 2020

NARENDRA (ACCOUNTS MANAGER) (1994 Points)
Replied 08 October 2020

NO LATE FEES AT ALL........... .........

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Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 08 October 2020

No, For A.Y 2019-20 Late fee u/s 234F applicable

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NARENDRA (ACCOUNTS MANAGER) (1994 Points)
Replied 08 October 2020

FOR LESS THAN 2.50 LAC .............. ??????? NO...... IT DOESN'T..................

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 08 October 2020

Yes, As per Section 234F
1. if Income below Exemption limit than late fee is ZERO
2. if income more than basic Exemption limit but total income less than 5,00,000 than late fee will be "1000"
3. if total income more than 5,00,000 than late fee will be 5000 / 10,000 as the case may be

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