Fee for default in furnishing return of income [ Section 234F ] - Income Tax - Ready Reckoner - Income Tax

Fee for default in furnishing return of income [Inserted by FA, 2017, w.e.f. 1-4-2018 ] [ Section 234F ] After 1st April 2021 Where a person required to furnish ROI u/s 139 , fails to do so within the time prescribed u/s 139(1) shall has to pay, by way of fee- a sum of ₹ 5,000/-; If total income of person does not exceed ₹5,00,000, the fee payable under this section shall does not exceeds of ₹1,000. Upto 31st March 2021 Where a person required to furnish ROI u/s 139(1) , within the time prescribed u/s 139(1) shall has to pay, by way of fee, a sum of- ₹5,000, if return is furnished on or before 31st December of AY. ₹10,000 in any other case. if total income of person does not exceed ₹5,00,000, the fee payable under this section shall be ₹1,000.