{"act":{"id":"finance-act-2017","short_title":"The Finance Act, 2017","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2017-2018.","act_number":null,"act_year":2017,"enact_date":"2017-04-17","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":198,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2017/"},"unit":"section","section":{"number":"76","heading":"Insertion of new section 234F","text":"Insertion of new section 234F. 76. After section 234E of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely:— \"234F. Fees for default in furnishing return of income.—(1) Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section (1) of said section, he shall pay, by way of fee, a sum of,— (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. (2) The provisions of this section shall apply in respect of return of income required to be furnished for the assessment year commencing on or after the 1st day of April, 2018.\".","html":"<p><b> Insertion of new section 234F.</b></p><p><b> 76.</b> After section 234E of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2018, namely:—</p><p>\"234F. <i>Fees for default in furnishing return of income.</i>—(1) Without prejudice to the provisions of this Act, where a person required to furnish a return of income under section 139, fails to do so within the time prescribed in sub-section (1) of said section, he shall pay, by way of fee, a sum of,<i>—</i></p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>five thousand rupees, if the return is furnished on or before the 31st day of December of the assessment year;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>ten thousand rupees in any other case:</td></tr></table></div><p><b>Provided</b> 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.</p><p><span class=\"num\">(2)</span> The provisions of this section shall apply in respect of return of income required to be furnished for the assessment year commencing on or after the 1st day of April, 2018.\".</p>","words":173,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2017/section/76/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}