New Section 234F: Fee for Late filing of return of Income
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Returns filed after due dates specified for filing of return under sub-section (1) of section 139.
The proposed fee structure is as follows:—
(i) Rs. 5,000 if the return is furnished after the due date but on or before the 31st day of December of the assessment year;
(ii) Rs.10,000 in any other case.
Note: However, in a case where the total income does not exceed five lakh rupees, it is proposed that the fee amount shall not exceed Rs.1000
The proposed fee structure is as follows:—
(i) Rs. 5,000 if the return is furnished after the due date but on or before the 31st day of December of the assessment year;
(ii) Rs.10,000 in any other case.
Note: However, in a case where the total income does not exceed five lakh rupees, it is proposed that the fee amount shall not exceed Rs.1000
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