Income Tax penalty under New Section 270A Income Tax Act
Section 270A of Income Tax Act ( Section 270A – penalty in cases of under reporting and misreporting of income ) Finance Bill 2016 Rationalisation of penalty provisions Under the existing provisions, penalty on account of concealment of particulars of income or furnishing inaccurate particulars of income is leviable under section 271(1)(c) of the Income-tax Act. In… Read More »