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 fee on late filing applies even if tax already paid; return remains essential for assessment. Late fee is imposed for delayed filing of income tax returns even where tax has been fully paid or no balance remains, because the return is the foundational document for assessment and failure to file by the prescribed time attracts a late filing fee irrespective of tax payment status.