Penalty For Efiling Belated Return ITR -1 AY 2019-20

Belated return ITR-1:- There is no penalty for filing your ITR late. tax payers having income upto rs. 250,000 for an assessment year.

If you have missed the August 31st  2019 due date for filing income tax return (ITR) for financial year 2018-19 (assessment year 2019-20).

Then you  need not to worry as you can still file a Belated return ITR-1.But with some amount of penalty.

Fine For efiling Belated return ITR-1

The Income Tax (I-T) department has  made a list of fines ranging from Rs. 5,000 to Rs. 10,000 for filing a belated income tax return,.

According to its website – A belated income tax return is filed under section 139(4) of the Income Tax Act.

The more you get late in efiling Your ITR,the greater amount you have to pay as penalty.

A belated income tax return attracts a late filing fee under Section 234F of the Income Tax Act.

Also read Section 80TTB AY 2020-21

Fine According To Delay

  • A late filing fee of Rs 5,000 is payable for a return filed by December 31st of the assessment year, according to the Income Tax Department.
  • An Income tax return filed after December 31 but before March 31 attracts a late filing fee of Rs 10,000.

    The late filing fee cannot exceed Rs 1,000, if the assessee’s total income does not exceed Rs 5 lakh.

Following taxpayers  need not furnish any return

  • Individuals having an annual income of up to Rs 2.5 lakh. need not to file income tax returns.
  •  senior citizens (individuals between 60 years and 80 years of age), the limit is Rs 3 lakh
  • For super senior citizens (aged above 80 years).

Final Words

Finally to avoid penalty for efiling late return, you should file it before 31st December to avoid further penalty.

Kuldeep Singh

is a professional blogger,teacher and income tax expert

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