What is the late fee for filing ITR after the due date?

The late fee under Section 234F is ₹5,000 (₹1,000 if income is below ₹5 lakh).

What is interest under Section 234A?

Interest under Section 234A is charged at 1% per month on the outstanding tax amount from the due date to the date of filing.

Filing a belated return by December 31 helps you avoid late fee under 234F, but you may still have to pay interest under 234A on the outstanding tax.

Liquetax provides timely reminders, accurate tax computation, and error-free filing to ensure you file on time and avoid penalties.

Income Tax

Understand late fees and penalties for ITR filing – 234F, 234A, 234B, and more. Learn how to avoid penalties and file on time with Liquetax.

What this guide covers

What does Late Fees & Penalties for Income Tax Return Filing Explained mean in practice?
Who is affected and what should they check first?
Which documents or records should be kept ready?
What common mistakes should be avoided?