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Section 234f

24 September 2020

if a person has 10lakh agriculture income and it is the only income of a.y 19-20. so, now if we file itr of a.y 19-20 , whether 234f attracted?

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10 Replies

Suresh Rathi (34 Points)
Replied 24 September 2020

Yes, for filing ITR 234f will be attracted

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Vikas Mahajan (157 Points)
Replied 24 September 2020

But as per 234f if total income exceeds maximum amount chargeable to tax then he is liable to pay penalty under 234f. but in my case whole income is exempt.

damodar sarda (CA Practice ) (184 Points)
Replied 24 September 2020

234 F will not attract.

vinayak landge (B.Com) (136 Points)
Replied 25 September 2020

I think, if total income is upto 5 lakh then there Rs. 1000 penalty. In your case the total income is 0, but still if you file the return after due date penalty of 1000 will be attracted

sabyasachi mukherjee (27574 Points)
Replied 25 September 2020

Agricultural income is not taxable as such.

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damodar sarda (CA Practice ) (184 Points)
Replied 25 September 2020

Fee for default in furnishing return of income.

234F. [1] Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section [1] of the said section, he shall pay, by way of fee, a sum of,—

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 28 September 2020

@ Mr. Vikas Mahajan

If a Person has 10 Lakh (or let's say 1 Crore) Agriculture income and it is the only income of A.Y 19-20. And if now, you file ITR of A.Y 19-20, than ther is "NO LATE FEE" u/s 234F as your total income is Exempt from tax...

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Vikas Mahajan (157 Points)
Replied 28 September 2020

Thank u @ sagar patel

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 28 September 2020

Most welcome.......

debora M (BUSINESS DEVELOPMENT MANAGER) (1697 Points)
Replied 20 March 2022

As per section 234F of the Income-tax Act, taxpayers must pay a penalty for delay in filing ITR. In simple words, if you fail to file your tax returns within the deadline for the current year i.e., 31st of December, you might end up paying up to INR 5,000 as penalties.