CBDT releases Explanatory Notes to provisions of the Finance Act, 2018

The Central Board of Direct Taxes (CBDT) has released the explanatory notes to the provisions of the Finance Act, 2018. These explanatory notes describe the substance of the provisions/amendments made by the Finance Act, 2018 relating to Income-tax.

[To download click here]


    1. As per Section 234F: Fee is payable (a) five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year;
      (b) ten thousand rupees in any other case:

      Provided that if the total income of the person does not exceed five lakh rupees, the fee payable under this section shall not exceed one thousand rupees.


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