Tag Archives: Penalty

Income Tax Penalty पर CBDT का नया Order I Faceless penalty scheme

By | March 1, 2021

Income Tax Penalty पर CBDT का नया Order I Faceless penalty scheme I CA Satbir Singh The Central Board of Direct Taxes (CBDT) has issued clarification that penalty proceedings arising or pending in the Investigation Wing, the directorate of I&CI, erstwhile DG (Risk-Assessment) or by any prescribed authority shall remain outside the purview of Faceless… Read More »

Penalty Increased for Misquoting of Aadhaar or PAN number from 01.09.2019 :Section 272B income tax

By | July 14, 2019

Section 272B after Amendment by Finance Bill 2019 w.e.f 01.09.2019 Penalty for failure to comply with the provisions of section 139A. 272B. (1) If a person fails to comply with the provisions of section 139A, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees. (2) If a… Read More »

Penalty for GST Annual Return Late Filing

By | June 8, 2019

Penalty for GST Annual Return Late Filing जीएसटी एनुअल रिटर्न देरी से भरने पर लगेगा कितना जुर्माना   GSTR 9A (Composition Dealer) Not filed by Due Date (Non Audit Case) GSTR 9 (Normal Taxpayer with turnover less than Rs 2 Crore) Not filed by Due Date (Non Audit Case) GSTR 9 (Normal Taxpayer with turnover… Read More »

No Penalty for Cash loan from parents and brother for purchasing House : ITAT

By | May 21, 2019

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has ruled that the cash loan received from the parents and brother of the assessee for the purchase of the house for the whole family cannot be penalized under Section 271D of the Income Tax Act. Penalty for Cash loan from parents and brother for… Read More »

Analysis with Examples section 270A of Income Tax -200% Penalty

By | November 14, 2016

Analysis with Examples section 270A  of Income Tax -200% Penalty Presently, section 271(1)(c) of Income Tax Act, inter alia provides penalty for concealment of income or furnishing of inaccurate particulars of income. Finance Act, 2016 replaces the section 271 of Income Tax Act by section 270A and provides penalty for underreporting and misreporting of income… Read More »