Section 234F → Section 274
Fee for default in furnishing return of income
Quick Answer
Section 234F of the Income Tax Act, 1961 (Fee for default in furnishing return of income) corresponds to Section 274 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 234F
Provision Summary
Late fee of Rs. 5,000 for filing ITR after the due date (Rs. 1,000 if total income is <= Rs. 5 Lakhs).
Sec 274
Provision Summary
Retained. This is a mandatory fee, separate from Section 234A interest.
Key Changes & Highlights
- The Rs. 1,000 cap for small taxpayers is a major relief feature retained.
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Frequently Asked Questions
What does Section 234F of the Income Tax Act 1961 deal with?
Section 234F (Fee for default in furnishing return of income) Late fee of Rs. 5,000 for filing ITR after the due date (Rs. 1,000 if total income is <= Rs. 5 Lakhs).
What is the new section number for Section 234F under the Direct Tax Code 2025?
Section 234F of the ITA 1961 maps to Section 274 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 234F under the new tax code?
Section 234F is marked as "Retained" with status "Active". Impact: High - Universal late fee for all taxpayers.
What are the key changes to Section 234F under DTC 2025?
The Rs. 1,000 cap for small taxpayers is a major relief feature retained.
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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