penalty under section 234
kavya sri (article assistant) (66 Points)
30 December 2018
Should we pay penalty under section 234 even for filing nil return?
5 Replies
Tax Baddi
(37 Points)
Replied 30 December 2018
Yes, But if Gross Total Income is less than 2.5 lacs there is no such penalty.
soma chandrika sangoju
(0)
(96 Points)
Replied 30 December 2018
Madam,
penalty u/s 234f is whose gross total income[i.e.,before sec 80 deductions] exceeds 2,50,000 .[A.Y 18-19 return]
File before 31-12-2018
< 2.5 - penalty nil
<5.0 - 1,000
>5.0- 5,000
File after 31-12-2018
<5.0 - 1,000
>5.0 -10,000.
penalty u/s 234f is whose gross total income[i.e.,before sec 80 deductions] exceeds 2,50,000 .[A.Y 18-19 return]
File before 31-12-2018
< 2.5 - penalty nil
<5.0 - 1,000
>5.0- 5,000
File after 31-12-2018
<5.0 - 1,000
>5.0 -10,000.
Prantosh Paul
(Accountant)
(6 Points)
Replied 23 April 2019
submitted return u/s 44ADA within due date revised return submitted within time limit shall attract 234F
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