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Section - 140A - Fee for delayed filing of return –

 

A provision is sought to be inserted to provide a fee for delay in furnishing the return from the assessment year 2018-19 onwards if the return is not filed within the due dates under section 139(1). The provision will not be applicable where the total income does not exceed Rs.5 Lakhs. A consequential amendment is proposed to be made in section 140A to provide that in case of delay in furnishing the return fees for delay shall also be payable alongwith tax and interest.

 

The amendment will take effect from 1st April 2018 relevant to assessment year 2018-19.


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