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Income Tax - Frequently Asked Questions (FAQs) |
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FAQs on filing the return of income |
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If I fail to furnish my return within the due date, will I be fined or penalized? |
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Ans. As per section 234F, late filing fees of Rs. 5,000 shall be payable if return furnished after due date specified under section 139(1). However amount of late filing fees to be paid shall be Rs.1,000, if the total income of the person does not exceed Rs.5 lakhs. |
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