Income Tax Return Filing Penalty - Section 234F - Penalty When You Fail to File ITR

In This Video, we have discussed the Income Tax Return Penalty(ITR Filing Penalty), Which accrue when you miss filing ITR. This type of penalty comes under Section 234F.

▲ Income Tax Department. Section 234F of the Income Tax Act levies late fees on the person who has not filed their income tax return within the prescribed time limit.
#IncomeTaxDepartment

▶ Section 234F of Income Tax Imposes a fine on a person who has failed to pay tax by the due date of the financial year.

▶ Taxpayers include details about their income, tax exemptions who may be eligible for a rebate, who may be eligible for tax refunds.

▶ The situation has changed with the changes introduced in Section 234f of the 2017 Income Tax Act.
#Section234Fofthe2017IncomeTaxAct

▶ As per the New Regulations under this Act, you are now obliged to pay your Income Tax on time or you will be liable for a fine of up to ₹ 10,000.
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Time Stamps:
Section 234F of Income Tax Imposes: 0:06
Taxpayers include details about their income: 0:19
The situation has changed: 0:30
As per the New Regulations under this Act: 0:42
For more information about ITR: 0:52
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For more information about ITR,
Visit https://www.dialabank.com/income-tax/...
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