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Insertion of new section 234F- Fee for default in furnishing return of income.

Clause 75 - Bills - DIRECT TAXES - Income-tax - FINANCE BILL, 2017 - Clause 75 - Insertion of new section 234F. 75. After section 234E of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely: .....

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section, he shall pay, by way of fee, a sum of,- (a) five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year; (b) ten thousand rupees in any other case: Provided that if the total income of the p .....

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on or after the 1st day of April, 2018. . Clause 75 of the Bill seeks to insert section 234F of the Income-tax Act relating to fee for default in furnishing return of income. It is proposed to provide that a fee for delay in filing of return shall b .....

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