Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Section 234F

Rohit (Fhk) (63 Points)

02 September 2019

Whether Fees u/s 234F can be waived, if yes then how?

Reply
Follow
Share

6 Replies

Pranav Aggarwal (525 Points)
Replied 02 September 2019

it can be waived if u enter GTI less than basic exemption limit applicable to assesse

Upgrade to CAclubindia Pro. Subscribe Now!

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 02 September 2019

No... Sec 234F fees can't waived(????!!!!) if Assessee's income as per sec 139(1).

(Waived ?????!!!!) It's not refund or (waived) if applicable to taxpayer's income...

Kapadia Pravin (17259 Points)
Replied 03 September 2019

Late fees under 234F is by default and mandatory.
However if your Gross total income falls below Basic exemption limit of 2.50 lakhs then You don't have to pay 234 late fee.

Gross total income means total income before allowing chapter VIA deductions.

Rohit (Fhk) (63 Points)
Replied 03 September 2019

Can fees be waived through Assessing officer If GTI exceeds basic exemption limit

Suresh Thiyagarajan (Student) (3986 Points)
Replied 03 September 2019

1. There is no exclusive provision in the IT which deals with the waiver of penalty under sec 234F.
2. Under sec 273A power of given to principal commissioner or commissioner to waive the penalty imposed u/s 270A sec 271(1)(iii).
3. Hence, IT authority does not have the power to waive penalty u/s 234F for late filing of Income-tax return. However, if an assessee is not required to file IT return but voluntarily files the return then no penalty is imposed on such person. If the GTI is above the basic exemption limit then it is mandatory to pay the penalty u/s 234F
4. If an assessee has not filed his return of income before the due date specified u/s 139(1) then it is mandatory on his part to pay the penalty u/s 234F.
Please correct me if the above solution has an alternative view.