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Under the Income Tax Act of 1961, every assessee is required to file his/her income tax return on or before the due date prescribed under section 139(1). The last date to file ITR for individuals is 31st July of the relevant assessment year and 31st October for taxpayers whose accounts are subject to audit.If a person who is required to file an Income Tax Return (ITR) fails to do so on time, he is subject to a penalty. To see how much money you owe in penalties, use our section 234F calculator.

Late Fees
for FY. 2023-2024 (AY. 2024-2025)
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Q What is Sec 234F?

As per Section 234F of Income Tax Act, if a person is required to file an income tax return (ITR) as per the provisions of income tax law [Section 139(1)] but does not file it within the prescribed time limit, then late fees have to be deposited by him while filing his ITR.
The fee amount shall depend upon your gross total income / total income and the return filing time.

Q How much fee can be charged under Section 234F?

(A). If your total income is more than 5 Lakhs & return is filed after the due date, the Fee = Rs. 5000
(B). If the total income is less than or equal to 5 Lakhs & return is filed after the due date, the Fee = Rs.1000
(C). If the gross total income does not exceed Rs. 2.5 Lakh, No late filing Fees applicable.

Q What is Section 234F applicability?

It applies to all persons, including individuals, HUF, companies, firms, AOP, etc., if the return is filed after their respective due dates.

Q How to pay the penalty under Section 234F?

It can be paid through Challan 280, under the head of “Self Assessment Tax,” from F.Y 17-18 and onwards.

Q Example on the quantum of fee that would be payable u/s 234 F of income tax act for FY 22-23:

Total Income Return Filing Date Amount of Fees u/s 234F Reason
3,40,000 30/06/2022 NA Return is filed before the due date
2,20,000 31/03/2022 NA Since, income is below 2.5 lakh.
4,00,000 Not filed 1000 Since, income is below 5 lakh.
8,50,000 15/11/2022 5000 Since, income is above 5 lakh.