WebSep 1, 2024 · Yes, penalty under Section 234F would be leviable in your case. In your case, you are required to file ITR as per law because your income before deductions is above the basic exemption limit. Therefore, if you file the belated return then sec 234F shall be applicable. Late Fees of Rs. 1000 shall be applicable in your case. WebJul 18, 2024 · Hence, late fee U/s 234F is not applicable on any assessee who is not liable to file income tax return as per above provision. Example: – An individual (age below 60 years) having Gross total income Rs. …
Income Tax Return Due Date Fy 2024 22 Ay 2024 23will Itr Due …
WebAs per section 234F of the Income-tax Act any taxpayer who does not file their tax returns by the 31st of December (for the current year) but does so before the 31st of December, … WebAug 1, 2024 · Section 234F draws reference of persons liable to pay late filing fees for filing a belated income tax return from Section 139. Late fees or penalty u/s 234F for belated filing of ITR after the due date cannot be levied where a person is not compulsorily required to file a return of income u/s 139. jena ramsey
Section 234F: Fees on Belated Income Tax Return [AY 2024-22]
WebApr 9, 2024 · A person making delay in furnishing return as explained above, shall be liable to pay fee of. Rs 5,000 – If return is furnished upto 31st December of assessment year . Rs 10,000 – If return is furnished … WebJan 3, 2024 · I have filed a Rectification Request for A Y. 2024-21 (as I have put the Home Loan Interest amount of Rs. 2,00,000 in a wrong field in ITR-2 and I did not get the benefit of Home Loan Interest Payment). Although I have filed the original Return within due date, I am observing that a late fee of Rs.10,000 under Sec 234F is getting added in the ... WebIncome tax department introduced this law of late filing fees u/s 234F in the Budget 2024 which became effective from assessment year 2024-19 onwards. Assessment year is basically the subsequent year after the fiscal year for which the Income Tax Return is filed, so for the financial year 2024-19 the assessment year is 2024-20. jena ramen restaurant