Section 234A → Section 270
Interest for defaults in furnishing return of income
Quick Answer
Section 234A of the Income Tax Act, 1961 (Interest for defaults in furnishing return of income) corresponds to Section 270 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 234A
Provision Summary
Interest @ 1% per month for late filing of ITR.
Sec 270
Provision Summary
Retained. Calculated from the day following the due date until the actual date of filing.
Key Changes & Highlights
- Automatic calculation by the portal; return cannot be filed without paying this interest under self-assessment.
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Frequently Asked Questions
What does Section 234A of the Income Tax Act 1961 deal with?
Section 234A (Interest for defaults in furnishing return of income) Interest @ 1% per month for late filing of ITR.
What is the new section number for Section 234A under the Direct Tax Code 2025?
Section 234A of the ITA 1961 maps to Section 270 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 234A under the new tax code?
Section 234A is marked as "Retained" with status "Active". Impact: High - Punitive cost for missing the ITR deadline.
What are the key changes to Section 234A under DTC 2025?
Automatic calculation by the portal; return cannot be filed without paying this interest under self-assessment.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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