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ITR filing 234F

31 August 2019

In case A person file his income tax return with an income less than Rs. 250000/- tomorrow .... whether he will B liable to pay penalty under 234F?

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6 Replies

Pranav Aggarwal (525 Points)
Replied 31 August 2019

he will be libale to fees of 1,000 if he reported his gross total income more than 2,50,000

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veera (self) (289 Points)
Replied 31 August 2019

Yes he is liable to pay penalty of rs 1000.for itr after due date

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Kapadia Pravin (17264 Points)
Replied 31 August 2019

Upto taxable income 5 lakhs, the late fee is 1000/- compulsory under 234F

RAJA P M ("Do the Right Thing...!!!") (128096 Points)
Replied 31 August 2019

No... Penalty not levied if income less than 2.5 lakhs.
sec 234F is levied to who is required filings u/s 139(1) of IT act.

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Kapadia Pravin (17264 Points)
Replied 01 September 2019

If under 139(1) not required to file then don't file and so no 234F late fee.
But if you still want to file even though not required then late fee penalty is 1000 upto a taxable income of RS 5 lakhs.
This is the interpretation ITax department considers