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of <h1>Late income tax filing attracts Rs 5,000 fee under proposed Clause 428 for high earners</h1> A taxpayer who fails to file their income tax return within the prescribed time under the proposed Income Tax Bill 2025 will face a fee under Clause 428. The fee structure mirrors the current Section 234F of the Income Tax Act 1961, imposing Rs. 5,000 for taxpayers with income exceeding Rs. 5 lakh and up to Rs. 1,000 for others. The main difference is that Clause 428 references Section 263 for filing obligations instead of Section 139. Both provisions operate without prejudice to other penalties and aim to encourage timely compliance through moderate, income-linked fees rather than harsh punitive measures.
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