PENALTY U/S 234F OF INCOME TAX

IF ANY PERSON FAILS TO FILE INCOME TAX RETURN ON DUE DATE (31JULY) IN A YEAR THEN PENALTY U/S 234F WILL BE LEVIED AS PER FOLLOWING TABLE:

DATE                       INCOME UPTO RS.5 LAKH                          INCOME ABOVE RS.5 LAKH

AUGUST TO 31 DECEMBER                RS.1000                                              RS.5000

 

 

 

 

JAN TO 31 MARCH                                 RS.1000                                             RS.10000

TO SAVE THIS PENALTY IT IS NECESSARY TO FILE ITR ON OR BEFORE DUE DATE EVERY YEAR.

THANKS