Dear Sir/Madam,
If total income of a individual in F.Y 2017-18 is Rs.240000 and He file his income tax return after due date i.e 31st August,2018 , Then either he is required to pay late fee Rs. 1000 or not?
3 Replies
CA Nikita Motwani
(Chartered Accountant)
(912 Points)
Replied 01 August 2018
yes late fees of 1000 Will be payable
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 01 August 2018
No...
If Assessee's total Income not exceeding BEL then the Penalty (u/s 234F) is not levied if he is filling after 31st August 18...
If Assessee's total Income not exceeding BEL then the Penalty (u/s 234F) is not levied if he is filling after 31st August 18...
VENU R Prabhu
(311 Points)
Replied 01 August 2018
if one's gross income before any deduction is below 2.5 lakhs no late free whereas income above 2.5 and below 5 lakhs late fee ₹1000 and if income above 5 lakhs 5000 ₹ but after 31.12.18 and upto 31.03.19 it is ₹10000
Recent Topics
- Handling of NRO TDS
- Asset Declaration in ITR2
- CGST/SGST Input tax Classification in Tally Prime
- PREFERENCE SHARES - NBFC
- Vivad se vishwas scheme 2024
- List of banks for tax payments available at e-Pay
- Excess itc claimed then intrest applicable even if
- Financing for Properties and Businesses
- TAX DEMAND STILL SHOWING ON INCOME TAX PORTAL, EVE
- FORM 10 IEA IN Revised return
Related Threads
CAclubindia
