Can ito levy penalty u/s 234f in revise income tax return?

santosh (Querist) 13 January 2020 This query is : Resolved
I have Submitted Income Tax Return A.Y.-2019-2 on Dt. 31.08.2019 showing Income Rs. 317000/- and e verified on 24.12.2019. Thereafter I filed a revised I.T. Return on Dt. 24.12.2019 and showing Income Rs. 340000/-. Thereafter I got Intimation U/s 143(1) on Dtd. 13.01.2020 showing Penalty U/s 234F of Rs. 1000/-. I want to Know that an ITO can Impose Penalty U/s 234F in Revise Return or not ? Please Answer anyone Thanks & Regards.

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This discussion explores whether an Income Tax Officer (ITO) can impose a penalty under section 234F for a revised income tax return. The consensus suggests that while the penalty is generally for late filing, the specific circumstances of the revision and the original filing date are crucial. It's advised to consult a CA for clarity on individual cases, as the interpretation can depend on the exact dates and income changes.

Sb Karma (Expert) 13 January 2020
Your time limit falls under 234F,so check your document,may be you input some entry outside of its time limit.
please re-check your entry carefully.
And yes they may demand fine under 234F

Raj Kumar Makkad (Expert) 13 January 2020
Yes is the sole reply of your query. As you have not asked reason for levying the penalty hence there is no reason even for us to elaborate more.

Dr J C Vashista (Expert) 15 January 2020
Is there any change in your income during the last financial year within 4 months of filing your income tax return which you have shown in your revised return ?
Consult your CA., it is not a dispute to be considered and obliged by experts at this forum.

T. Kalaiselvan, Advocate (Expert) 19 January 2020
No, as per section 234F, the penalty shall be levied on late filing of return but not on late e-verification of return. Hence, If you e-verify after the due date of filing return but before 120 days of filing the return, fee u/s 234F cannot be levied.

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