Late fees on late filing of ITR

[CA AJAY KUMAR AGRAWAL]

As per proposal in Finance Bill 2017, a late fee is leviable in case of late filing of ITR. My question is in case Tax has been already paid within Previous Year / no tax is balance, whether in this situation also late fees is payable? Please share your views.

[DR.MARIAPPAN GOVINDARAJAN]

Late fee is applicable even though the tax has been paid in total and failed to file the return. Return is the basic document for assessment of tax.

AI Summary

Late Fees Apply to Late Income Tax Returns Even if Tax Paid in Full, as per Finance Bill 2017 A query was raised regarding the imposition of late fees for late filing of Income Tax Returns (ITR) as proposed in the Finance Bill 2017. The question concerned whether late fees would still apply if the tax had already been paid in full within the previous year, leaving no balance. The response clarified that a late fee is applicable regardless of whether the tax has been fully paid, as filing the return is essential for tax assessment.