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Sanjib Basak

Category : Penalty ..,
A taxable payer income less than Rs 250000 lakh. He want to ITR 1 file for FY 17-18. He will file return after due date, then penalty is applicable or not?
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Amlan Dutta
Actually, i think you refer to the late fee penalty (5000 Rs)under 234 F ...Note that persons for whom the gross total income is below threshold level , there is no late fee penalty way to yourself figure out such things practically is fill up the return and determine the taxes computed by t...