3 Questions
Which one of the following is a disadvantage of filing a belated income tax return?
Deductions or exemptions are not available
What is the penalty for filing a belated income tax return under Section 234F of the Income Tax Act, 1961?
Up to Rs 5,000
What happens if a taxpayer under-reports the income while filing a belated income tax return?
A penalty of up to 200% of the tax payable will be levied
Test your knowledge on the penalties and consequences of filing a belated income tax return. This quiz covers disadvantages of filing late, penalties under Section 234F of the Income Tax Act, 1961, and what happens when a taxpayer under-reports income while filing a belated return.
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