Section 234F of the Income Tax Act, 1961, addresses the late filing of income tax returns in India. It imposes a late filing fee on taxpayers who fail to file their returns within the due date.
Total Income | Maximum Late Fees |
|---|---|
Upto Rs. 2.5 Lakhs | Nil |
Rs. 2.5 Lakhs - Rs. 5 Lakhs | 1,000/- |
Above Rs. 5 Lakhs | 5,000/- |
The due date for Individual/HUF taxpayers is 31st July after the end of the financial year. For example, for the financial year 2023-24, the due date will be 31st July 2024.
The due date for Companies/firms is 31st October after the end of the financial year. For example, for the financial year 2023-24, the due date will be 31st October 2024.
The due date for Companies/firms is 31st October after the end of the financial year. For example, for the financial year 2023-24, the due date will be 31st October 2024.
Comments
0 comments
Please sign in to leave a comment.