{"id":2333,"date":"2019-10-24T12:40:08","date_gmt":"2019-10-24T07:10:08","guid":{"rendered":"https:\/\/aktassociates.com\/blog\/?p=2333"},"modified":"2020-01-09T17:07:15","modified_gmt":"2020-01-09T11:37:15","slug":"section-234f","status":"publish","type":"post","link":"https:\/\/aktassociates.com\/blog\/section-234f\/","title":{"rendered":"Section-234F- Late fee for Default in Furnishing Return of Income"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">To ensure the timely filing of return of income, a new section 234F with effective from 01.04.2018 has been inserted under the Income Tax act in the budget 2017 which shall be discussed in this article.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2334 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/Section-234F.png\" alt=\"Section-234F\" width=\"700\" height=\"400\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/Section-234F.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/Section-234F-300x171.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/Section-234F-20x11.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_66_1 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >In this article, we will discuss about...<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #1e73be;color:#1e73be\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #1e73be;color:#1e73be\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#Section-234F\" title=\"Section-234F\">Section-234F<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#Case-1\" title=\"Case-1:\u00a0\">Case-1:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#Case-2\" title=\"Case-2:\u00a0\">Case-2:\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#Note\" title=\"Note:\">Note:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#Section-234F_at_a_Glance\" title=\"Section-234F at a Glance\">Section-234F at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#The_due_date_under_section_1391\" title=\"The due date under section 139(1)\">The due date under section 139(1)<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#30th_September_of_the_Assessment_Year\" title=\"30th September of the Assessment Year :\">30th September of the Assessment Year :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#30th_November_of_the_Assessment_Year\" title=\"30th November of the Assessment Year :\">30th November of the Assessment Year :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#31st_July_of_the_Assessment_Year\" title=\"31st July of the Assessment Year :\">31st July of the Assessment Year :<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Section-234F\"><\/span><strong>Section-234F<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">As per section 234F of the <a href=\"https:\/\/aktassociates.com\/blog\/income-tax-rules-for-nri\/\">Income Tax Act,<\/a> where a person who is required to furnish return of income under section 139 failed to furnish such return of income within the due date or time prescribed under subsection (1) of section 139, such person is liable to pay the following amount as a fee<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Case-1\"><\/span><strong>Case-1:\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In a case where Return of Income required to be furnished under section 139 is furnished on or before 31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> December of the Assessment Year, then the late fee of Rs.5,000\/- shall be levied under section 234F.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Case-2\"><\/span><strong>Case-2:\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In any other case, the late fee of Rs.10,000\/- shall be levied under section 234F.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Note\"><\/span><strong>Note:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">However, the late fees under section 234F are limited to or do not exceed Rs.1,000\/- in case of a person having total income which does not exceed Rs.5,00,00\/-<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Section-234F_at_a_Glance\"><\/span><strong>Section-234F at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table>\n<tbody>\n<tr>\n<td><b>Late Fee<\/b><\/td>\n<td><b>Particulars<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Rs.5,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">If Return of Income filed after the due date prescribed under section 139(1) but, filed on or before 31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> December of the Assessment Year.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Rs.10,000\/-<\/span><\/td>\n<td><span style=\"font-weight: 400;\">In any Other case<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\"><span style=\"font-weight: 400;\">However, the late fee does not exceed Rs.1,000\/-, if the total income of such person does not exceed Rs.5,00,000\/-<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"The_due_date_under_section_1391\"><\/span>The due date under section 139(1)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Following are the Due dates specified under section 139(1)<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"30th_September_of_the_Assessment_Year\"><\/span><strong>30th September of the Assessment Year :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The following are the persons required to file their return of income on or before 30<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> September of the assessment year.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Company<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Person (other than a company) whose books of accounts are required to be audited under the Income Tax Act or under any other law for the time being in force.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Working partner of the firm whose books of accounts are required to be audited under the Income Tax Act or under any other law for the time being in force.<\/span><\/li>\n<\/ul>\n<h3><a href=\"https:\/\/aktassociates.com\/business-compliance\/yearly-compliance\/it-return-filing\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-2336 size-full\" src=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/Get-Income-Tax-Return-filing.png\" alt=\"Get Income Tax Return filing\" width=\"700\" height=\"150\" srcset=\"https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/Get-Income-Tax-Return-filing.png 700w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/Get-Income-Tax-Return-filing-300x64.png 300w, https:\/\/aktassociates.com\/blog\/wp-content\/uploads\/2019\/10\/Get-Income-Tax-Return-filing-20x4.png 20w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"30th_November_of_the_Assessment_Year\"><\/span><strong>30th November of the Assessment Year :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A person required to furnish a report referred to in section 92E is required to file their return of income on or before 30<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> November of the assessment year.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"31st_July_of_the_Assessment_Year\"><\/span><strong>31st July of the Assessment Year :<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Any other person or assessee (other than those persons mentioned In above) are required to <a href=\"https:\/\/aktassociates.com\/blog\/income-tax-return-filing\/\">file their return of income<\/a> on or before 31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> July of the assessment year.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To ensure the timely filing of return of income, a new section 234F with effective from 01.04.2018 has been inserted &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Section-234F- Late fee for Default in Furnishing Return of Income\" class=\"read-more button\" href=\"https:\/\/aktassociates.com\/blog\/section-234f\/#more-2333\">Read more<span class=\"screen-reader-text\">Section-234F- Late fee for Default in Furnishing Return of Income<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":2335,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Section-234F- Late fee for Default in Furnishing Return of Income<\/title>\n<meta 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