Section 234F -Fee for delay in filing Income-tax return

Section 234F -Fee (Penalty) for delay in filing Income-tax return

• Under this section, the fee (penalty) is levied if the Income-tax return is not filed within the due date.
• As per Section 234F of the Income Tax Act. Provisions of Section 234F of the Income Tax Act are as follows.
  • Section 234F: New penalty for late filing of Income Tax Return under section 234F is introduced in Budget 2017. This penalty is applicable for the assessment year.
  • If a person who is compulsorily required to file Income Tax Return (ITR) under section 139, doesn’t file a return on time then he is liable to a penalty as follows

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:-

1. If ITR is filed on or before 31st December following the last date – Rs. 5,000
2. If ITR is filed after 31st December – Rs. 10,000

For a person with a Total Income of up to Rs. 5,00,000 – Rs. 1,000

Online Income Tax Return Filing in India | INCOME TAX E-FILING

• E-Filing Income Tax return is a filling process via this Associations/ Individuals/HUF/Businesses provide details related to their income whole Financial year and accordingly Income tax if needed to filed.
• Income tax e-filing  Process comes into existence when the final income of the assesse is computed from all the sources and Subsequent income tax is computed.
• Different Income Tax form is specified that is based on the Income sources earned by assesse.

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.

Why you required expert advices for ITR e-filling expert?

• As the deadline to submit income tax returns near, the pressure on paid individuals grows. Due to the large number of annual expense filers in recent times,
• It’s extremely difficult to find a CA or income tax filer who is ready to work for less money. Saving money on taxes is a major concern, particularly for people who get paid on a monthly basis.
• A re-visitation of getting back the allowance as TDS is required for some people.
• Few common mistakes which many persons or individuals do during the e-filing, Income tax return filling process like as:
  • Placing in incorrect personal details
  • Choosing an incorrect Income tax form
  • Failure in Form 26AS & TDS information reconciliation
  • Missing to reporting of source of Income
  • Possible deductions that could be claimed

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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