Income-tax Act, 1961Section 234F
- ₹5,000 if the return is filed after the due date
- ₹1,000 if total income does not exceed ₹5 lakh
- Fee to be paid before filing the belated return
Applies to FY 2025-26 (AY 2026-27) and earlier years.
IT Act 1961 → 2025 / Section 234F
InterestSection 234F → Section 428
Late fee for filing the income tax return after the due date
Section 234F of the old Income-tax Act, 1961 · new section 428 under the Income-tax Act, 2025
New reference Section 428
Income-tax Act, 2025Section 428
- 428(a): late return fee ₹5,000; ₹1,000 if total income does not exceed ₹5 lakh
- 428(b): same fee for a revised return filed more than nine months after the tax year ends
- 428(c): fee for not getting accounts audited — ₹75,000 for a delay up to one month, ₹1,50,000 after that
- 428(d): fee for not furnishing the transfer pricing accountant's report — ₹50,000 / ₹1,00,000
Applies from tax year 2026-27 (from 1 April 2026).
What changed
A real change. The Finance Act 2026 substituted section 428 from 1 April 2026: the late-return fee is unchanged, but there is now a fee for late revised returns (the revision window was extended to 12 months), and fixed fees replace the earlier penalties for missing the tax audit and transfer pricing reports.
Practice notes
- Revised returns: section 263(5) now allows revision up to twelve months from the end of the tax year (or before assessment), subject to the 428(b) fee.
- Returns for AY 2026-27 filed late are still charged under section 234F.
Frequently asked
What is the late fee for filing ITR under the new Income Tax Act 2025?
₹5,000 under section 428(a), reduced to ₹1,000 where total income does not exceed ₹5 lakh.
What is the fee for not getting accounts audited under the new Income Tax Act 2025?
Under section 428(c): ₹75,000 for a delay up to one month and ₹1,50,000 thereafter (from 1 April 2026).
What is section 234F called in the new Income-tax Act, 2025?
Section 234F of the Income-tax Act, 1961 corresponds to Section 428 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
What changed in section 234F under the new Income Tax Act?
A real change. The Finance Act 2026 substituted section 428 from 1 April 2026: the late-return fee is unchanged, but there is now a fee for late revised returns (the revision window was extended to 12 months), and fixed fees replace the earlier penalties for missing the tax audit and transfer pricing reports.
Is section 234F still applicable for FY 2025-26?
Yes. Income of FY 2025-26 (AY 2026-27) and earlier years is governed by section 234F of the 1961 Act. Section 428 of the 2025 Act applies from tax year 2026-27.