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Penalty u/s 234f if there is no tax liability

CA Naveen Chand (Chartered Accountant) (12729 Points)

12 September 2018

there is any penalty u/s 234f if tax is nil

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4 Replies

toshiba agarwal (10 Points)
Replied 12 September 2018

No penalty will not be charged as the penalty is charged to those who had broken any law but since the person whose income is below the maximum amount not chargeable to tax is not required to file ITR u/s 139 and thus no question of penalty would arise.
In all other cases penalty would be charged

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Gauri Shanker Lal Srivastav (218 Points)
Replied 12 September 2018

*late fee U/s 234F is not applicable on any assessee who is not liable to file income tax return as per above provision.*

Example: – An individual (age below 60 years) having Gross total income Rs. 2,48,000 and no deductions under chapter VI-A. If such individual files income tax return after due date, there will be no late fee in this case.

Example: – An individual (age below 60 years) having Gross total income Rs. 2,52,000 and no deductions under chapter VI-A. If such individual files income tax return after due date, there will be late fee in this case.