What is fees for Late Return of Income – ITR filing

Missed deadline for filing return of income for FY 2017-18 (AY 2018-19) and want to file return now but wondering what is fees for Late Return of Income – ITR filing. This post will provide complete details about late return filing.

Fee for default in furnishing return of income is provided as per section 234F of Income tax Act,1961 which is applicable for the assessment year commencing on or after the 1st day of April, 2018 .

If you are required to file return as per Section 139 as per due date provided in Section 139(1) and if you fail to file your return of income -ITR within this due date, you are liable to pay below mention fees:

  1. Five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year;
  2. Ten thousand rupees in any other case

There is one relaxation provided in case of small tax payer,if the total income of the person does not exceed five lakh rupees, the fee payable under this section for late ITR filing shall not exceed one thousand rupees .

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