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Penalty u/s 234F

vijay mohan (169 Points)

19 September 2018

is penalty leviable u/s 234F for refund cases also.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (167452 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....

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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.

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