File Income-Tax Return

With the insertion of new Section 234F under Income-Tax Act, 1961 it has levied a fee for delay in filing the Income-Tax Return for the Assessment year 2019-20 (FY 2018-19). Any person who is earning salary, pension or any other income who have not filed their Income-Tax return for the FY 2018-19 shall file by paying a fee of Rs.10,000 on or before 30.11.2020. However, the fee payable is restricted to Rs.1,000 for small tax-payers whose total income of Rs. 5 lakh is arrived after allowing all deductions. For detailed information, refer the provisions of the Income-Tax Act, 1961, the Income-Tax Rules, 1962, relevant circulars and notifications, according to a press release from N.D. Shreenivaas, Bhavani Associates, Mysuru.