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 Income-tax Act, 2025, effective 1st April 2026. Status: Retained.
What changed for Section 234F
Section 234F of the 1961 Act sets out the rules on 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).
The new code maps this to Section 274: the provision is retained and renumbered as Section 274 of the Income-tax Act, 2025, applying from 1st April 2026. Retained. This is a mandatory fee, separate from Section 234A interest.
On the ground, changes to Section 234F carry a High impact. Universal late fee for all taxpayers.
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 of the Income Tax Act, 1961 covers 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).
Where does Section 234F of the ITA 1961 go under the Income-tax Act, 2025?
Section 234F of the Income Tax Act, 1961 maps to Section 274 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. This is a mandatory fee, separate from Section 234A interest.
Why does the change to Section 234F matter for taxpayers?
The transition impact for Section 234F is rated High. Universal late fee for all taxpayers.
What are the key changes to Section 234F under the Income-tax Act, 2025?
The Rs. 1,000 cap for small taxpayers is a major relief feature retained. These points are specific to Section 234F (Fee for default in furnishing return of income).
Disclaimer: This mapping of Section 234F (Fee for default in furnishing return of income) to Section 274 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 234F is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.
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