Fee for default in furnishing return of income – U/s 234F
Finance Act, 2021 has reduced the time limit to file belated [Sec 139(4)]or revised [Sec 139(5)] return of income from 31st March to 31st December of the relevant Assessment Year. As return of income can’t be filed beyond 31st December of the relevant Assessment Year, late filing fee after amendment shall be payable in the following manner:
| Total Income (Rs.) | Date of filing of ITR | Late filing Fees (Rs.) |
| Assessee not liable to file ITR | Any time during April to December | Nil |
| Any amount of Income | On or before the due date | Nil |
| Up to Rs.5 Lakhs | After the due date | 1,000 |
| Exceeding Rs.5 Lakhs | After the due date | 5,000 |
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