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Total Income | Return filed | Fee (Penalty) |
Exceeds Rs. 5 Lakh | On or before 31st December of Assessment Year but after the due date | Rs. 5,000/- |
In any other case | Rs. 10,000/- | |
Upto Rs. 5 Lakh | After the due date | Rs. 1,000/- |
Let us discuss the above provision below:-
AMOUNT OF PENALTY
For a person with a Total Income of more than Rs. 5,00,000. The penalty amount would be as follows:-
For a person with a Total Income of up to Rs. 5,00,000 – Rs. 1,000
We offer our service in all Taxation and Various Registration related services managed by professional,
our bouquets of services portfolio are:
S.No. | COMPLIANCES | NATURE OF COMPLIANCES |
1 | INCOME TAX | Return Filing, Tax Deposit, TDS Returns, TAN, PAN, MAT, Tax Planning, NRI Taxation, Scrutiny, Assessments, Representing for Appeals etc. |
2 | GST | Registration, GST Tax Deposit, Monthly & Annually Return Filing, Input Credit, Department Notice, Assessment, And Other Compliance. |
3 | COMPANY PVT. LTD./LTD/LLP | Company Incorporation, Minutes, Annual Filing, Income Tax Return Filing, Routine Compliance, Section 8 Company, Nidhi Company, Inspection & Investigation for Mergers & Takeover. |
4 | SOCIETY/ TRUST (NGO) | Registration of Society/Trust, All India society, MOA, Income Tax Return Filing, Registration 80G & 12A, Utilization Certificates, Regs in NITI Aayog/NGO Darpan, etc. |
5 | PARTNERSHIP FIRM | Partnership Deed, Registration, Accounting, Income Tax Return Filing etc |
6 | PROPRIETOR FIRM | Registration, Accounting, Income Tax Return Filing, Refund etc. |
7 | IMPORT-EXPORT CODE | Registration & Amendment |
8 | ACCOUNTING | Accounting of Prop. The firm, Partnership Firm, Company, Trust, Society, Proper Accounting in Tally, Ledger Management, Inventory Management, etc |
9 | OTHER REGISTRATION &COMPLIANCE | SSI/MSME REGS, ESI, EPF, GMP CERTIFICATION, CGMP, HACCP, SA 8000, UL MARKING, CE MARKING ETC. |
Income tax e-filing 2020-21 have so many different deductions, new ITR forms, income tax slab rates & income tax return due date extended etc.
So as to minimize your Income tax amount and maximise your Income effectively you should required to be in touch with our ITR e-filing experts.
Contract us to Know more about the consequences and penalties for late filing income tax returns. We also handle tax & registration services , We are always available with the best of our assistance and services for you.
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