Insertion of new section 234-I
Insertion of new section 234-I.
16. After section 234H of the Income-tax Act, the following section shall be inserted and shall be deemed to have been inserted, with effect from the 1st day of March, 2026, namely:—
Fee for furnishing revised return of income.
"234-I. Without prejudice to the provisions of this Act, where any person furnishes a return of income under sub-section (5) of section 139, beyond nine months but before twelve months from the end of the relevant assessment year, he shall pay by way of a fee,—
| (a) | a sum of one thousand rupees, if the total income of such person does not exceed five lakh rupees; | |
| (b) | a sum of five thousand rupees, in any other case.". |