Processing of return: inclusion of late filing fee in computation and revised processing exemption after notice.

Amendment provides that the late filing fee introduced by the new fee provision shall be included with tax and interest in computing amounts payable or refundable on processing of a return, effective from 1st April, 2018. It also substitutes the processing exemption rule so that processing is unnecessary where a statutory notice has been issued, while exempting returns for assessment years commencing on or after 1st April, 2017 from that substitution.

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