Late Fees for nill return

Meena Teli (95 Points)

24 November 2020

I want to submit nill return FY. 18-19
in the month of November 2020
Any late fees applicable??

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5 Replies

SiJo JoSe (24 Points)
Replied 24 November 2020

1000rs

ayusmita (Tax consultant) (5885 Points)
Replied 24 November 2020

If below 2.5 lakh then no late fee
if above then late fees of 1000 with interest till that day

rama krishnan (12244 Points)
Replied 25 November 2020

No where in the act it's said that late fees is applicable only if there's tax liability Ms. ayusmita. in my opinion late fees of 1000 is applicable

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ayusmita (Tax consultant) (5885 Points)
Replied 25 November 2020

Sorry sir I retify my mistake

I mean below and above but written tax liability

My mind in in late fee yesterday so

Sorry again sir

Late fees are not applicable for nil return or below tax level people means 2.5 lakhs se below

JATINDER KUMAR (Accountant) (3662 Points)
Replied 25 November 2020

If Taxable Income upto 2.5 Lac - Late Fees will not be applicable

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