GSTR 3B date extension | Section 16(4) extension | GSTR 1 date extension | Rule 36 (4) extension |
The penalty provision for failure to file ITR within the time limit given in section 139(1) of Income Tax Act, 1961 is given in section 234F of the Act. Section 234F read as follows :- 1) Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section (1) of the said 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 person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees. (2) The provisions of this section shall apply in respect of return of income required to be furnished for the assessment year commencing on or after the 1st day of April, 2018.
Belated Return and Revised Return The provisions of belated return is given under section 139(4) and that of revised return in 139(5). As per section 139(4), any person who has not furnished a return within the time allowed to him under sub-section (1), may furnish the return for any previous year at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier. As per section 139(5), If any person, having furnished a return under sub-section (1) or sub-section (4), discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.
Section 44AB - Tax Audit Tax Audit is required to be conducted by certain persons carrying on business or profession. The related provisions are provided in section 44AB of Income Tax Audit, 1961.
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