Answer ( 1 )

  1. Yes, if you have not furnished the return within the due date, you will have to pay interest on tax due. W.e.f. assessment year 2018-19, fee as per section 234F is required to be paid if return is furnished after due date. Fee for default in furnishing return of income will be as follows:

    Rs. 5000 if return is furnished on or before the 31st day of December of the assessment year;
    Rs. 10,000 in any other case
    However, late filing fee shall not exceed Rs. 1000 if the total income of an assessee does not exceed Rs. 5 lakh.

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