is penalty leviable u/s 234F for refund cases also.
4 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(183108 Points)
Replied 19 September 2018
Refund is not the criteria to decide about penalty u/s. 234F.
If the aggregate income exceeds basic exemption limit (2.50 lakh, in general for individual).... penalty attracted....
Mohit Bansal
(Chartered Accountant)
(314 Points)
Replied 19 September 2018
With due respect I want to clearify that 234F is a "fees" and not penalty which is to be paid on or before itr and is applicable in cases of filing itr after applicable due date u/s139(1). It is irrespective of tax paid/payable or refundable in the return.
Fees quantum is Rs. 1000/5000/10000 depending upon case to case.
However the said fees is only applicable when the assessee has an obligation to file itr, which means if his/her total income before deductions under Chapter VI-A does not exceed the maximum amount not chargeable to tax viz. Rs. 250000, then section 234F is not applicable and hence no fees is to paid.
Fees quantum is Rs. 1000/5000/10000 depending upon case to case.
However the said fees is only applicable when the assessee has an obligation to file itr, which means if his/her total income before deductions under Chapter VI-A does not exceed the maximum amount not chargeable to tax viz. Rs. 250000, then section 234F is not applicable and hence no fees is to paid.
RAJA P M
("Do the Right Thing...!!!")
(128096 Points)
Replied 19 September 2018
@ Mr Mohit Bansal.,
Yes... You are exactly correct.
The sec 234F is not applicable if "GROSS TOTAL INCOME" is less than BEL...
Yes... You are exactly correct.
The sec 234F is not applicable if "GROSS TOTAL INCOME" is less than BEL...
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