Penalties in case of delay in filing of return

Penalties in case of delay

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Penalties in case of delay in filing of return

Section 234F

New section has been inserted with effect from 1st April 2018.

Section covers the penalty for delay in filing of return of income:

(a) Rs 5000, if the return is furnished on or before the 31st of December of the assessment year.
(b) Rs10000 in any other case:

 

Provided that if the total income of the person does not exceed 5 lakh rupees, the fee payable under this section shall not exceed Rs 1000.

Penalties in case of delay


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