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Ca Sneha Sarbhushan

Latest Posts by Ca Sneha Sarbhushan

Whether it is Mandatory to Mention Nature of Penalty w.r.t. Section 270A in Assessment Order

April 20, 2020 3126 Views 1 comment Print

Section 270A(8) states that where an under-reported income is in consequence of any misreporting by any person, such person shall be liable to pay 200% penalty on an amount of tax payable on such under-reported income.As per the said sub-section, penalty in case of misreporting is equal to 200% of under-reported income.

Benami Transactions Prohibition Amendment Act, 2016 Retrospective or Prospective

August 20, 2019 10329 Views 0 comment Print

Introduction : The Benami Transaction (Prohibition) Act, 1988 (Unamended Benami Act) was a small Act with only 9 sections. Through introduction of The Benami Transactions (Prohibition) Amendment Act, 2016, w.e.f. 1st November, 2016, the Unamended Benami Act was amended wherein the sections were increased from 9 to 72 sections and the name of the said […]

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