Section 234F Income Tax Act : ITR Late filing fees
[ Section 234F of Income Tax Act Inserted by the Finance Act, 2017, w.e.f. 1-4-2018. i.e applicable from AY 2018-19 (FY 2017-18 ) onwards ]
Summary of Section 234F Income Tax ITR Late filing fees
Section 234F of the Income Tax Act, 1961, was introduced in the Finance Act, 2017, and pertains to the late filing of income tax returns. The section imposes a fee for late filing of ITR (income tax return). Here is a summary of Section 234F of the Income Tax Act:
Applicability: Section 234F is applicable to individuals, HUFs, firms, companies, and any other person who is required to file an income tax return under the Income Tax Act.
Late Filing Fee: Under Section 234F, if an individual files the income tax return after the due date, then a late filing fee is levied. The amount of late filing fee depends on the time of filing. For returns filed after the due date but before December 31st of the assessment year, the late filing fee is Rs. 5,000.
Small taxpayers: The late filing fee is capped at Rs. 1,000 for individuals whose total income does not exceed Rs. 5 lakh.
Consequences of non-payment: If the late filing fee is not paid before filing the income tax return, the return will be considered as an invalid return.
Exemptions: The late filing fee is exempted if the individual has nil tax liability or if the return is filed under section 139(4) of the Income Tax Act, which pertains to the filing of a belated return.
It is essential to file the income tax return on time to avoid any penalties or late filing fees.
How to pay income tax late fee online
If you have missed the deadline for filing your income tax return, you may have to pay a late fee. You can pay the late fee online through the following steps:
Without Login to Income tax Website
Visit the official website of the Income Tax Department – https://www.incometax.gov.in/iec/foportal/
Click on the ‘Quick Links’ option on the homepage and select ‘epay taxes’ from the dropdown menu.
Choose the appropriate Challan option. If you are an individual, select Challan 280.
Fill in the required details such as your name, address, PAN number, assessment year, etc.
Select the type of payment you want to make, i.e ‘Self-Assessment Tax.’
Enter the amount of late fee that you are required to pay under Other option .
Verify the information provided and click on ‘Submit.’
You will be redirected to the payment gateway page where you can choose your preferred payment mode – Net banking, credit card, or debit card.
Enter the necessary details and complete the payment.
Once the payment is successful, you will receive a confirmation message and a receipt/ Challan for the payment made.
- You need to enter this Challan Information in your Income Tax return
After Login to Income tax Website
- You can login to official website of the Income Tax Department – https://www.incometax.gov.in/iec/foportal/
- Go to Efile option Tab and Click on “Epay taxes ”
- Click on New Payment option
- Click proceed on Income tax Tab option
- Select Assessment year and then Select the type of payment you want to make, i.e ‘Self-Assessment Tax.’
- Enter Late Fees under Other option in Challan
- Press continue and Make the Payment
- you can check and download challan after login to your income tax portal : Efile- Epay Tax – Payment history download by pressing three dots under Action option
It is important to note that the late fee amount may vary depending on the duration of the delay, so it is advisable to check the relevant rules and regulations before making the payment.
Section 234F Income Tax Act Substituted by the Finance Act, 2021, w.e.f. 1-4-2021.
Section 234F Income Tax Act till 31.03.2021 (Prior to its substitution by Finance act 2021)
Fee for default in furnishing return of income.
234F. (1) Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section (1) of the said section, he shall pay, by way of fee, a sum of,—
| (a) | five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year; |
| (b) | ten thousand rupees in any other case: |
Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.
(2) The provisions of this section shall apply in respect of return of income required to be furnished for the assessment year commencing on or after the 1st day of April, 2018.]
You can visit Govt of India Income Tax website Click here
Refer Commentary on Penalty for Late Filing of Income Tax Return
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