Section 234F and a Late Return

Section 234F sets the fee that attaches to a return filed after its due date. It is charged for lateness alone, separately from the interest that runs on unpaid tax, and it applies whether or not the return shows a crypto gain.

Key highlights

The dates for assessment year 2026-27.

31 Jul 2026

Individuals without an audit requirement

AY 2026-27 due date

31 Oct 2026

Audit cases

AY 2026-27 due date

31 Dec 2026

Belated return, with a fee under Section 234F

Section 139(4)

What the Fee Is For

Lateness, and nothing else. Section 234F does not look at how much tax you owe or whether you eventually paid it. Filing after the due date triggers the fee, and interest on any unpaid tax runs alongside it on its own terms.

A return filed after the due date is a belated return under Section 139(4). It is still a return, and filing one is materially better than not filing, but the fee and the interest both apply.

Why It Bites Harder With Crypto

Because the 1% deducted at source is already sitting in the department's records under your PAN. A transfer reported by an exchange with no matching return is visible, and from FY 2026-27 platform statements under Section 509(1) make it more visible again.

Filing late also compresses the part of the work that takes longest. Reconstructing acquisition dates and costs across several exchanges is not a December evening's job, and a lot without an acquisition record has a cost of zero, which turns the whole sale value into gain.

Frequently Asked Questions

The questions this term raises most often.

The ordinary due dates apply. For assessment year 2026-27 that is 31 July 2026 for individuals without an audit requirement and 31 October 2026 for audit cases, with a belated return possible until 31 December 2026 under Section 139(4).

Yes, as a belated return under Section 139(4) until 31 December, with a fee under Section 234F and interest on unpaid tax running separately.

This page states the law and what CryptoKar computes from your trade history. It is not tax advice. Judgment calls belong with a chartered accountant. Sections and dates here were read against the source on 21 August 2026.

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