Understanding section 271G penalty for failure to furnish information/documents under section 92D of the Income Tax Act.
The penalty provisions of section 271FB of the Income Tax Act applies to all the employer (who paid fringe benefits to its employees) who fails to furnish the ‘return of fringe benefits’ as required under section 115WD (1) of the Income Tax Act. The said penalty provisions of section 271FB are taken up and explained […]
Get a briefing on the penalty provisions of section 271FAB of the Income Tax Act. Understand the consequences of failure to furnish statement/information/documents by an eligible investment fund.
Avoid penalties under section 271FAA of the Income Tax Act for providing inaccurate statements of financial transactions or reportable accounts.
Learn about the penalty provisions of section 271FA of the Income Tax Act and understand the consequences of failing to furnish the statement of financial transactions or reportable account.
The person who breaches the provisions of section 269T of the Income Tax Act is liable to pay the penalty under section 271E of the Income Tax Act. The basic understanding of section 269T states that the person cannot repay any loans / deposits / specified advances in cash if the amount of payment is […]
Understand the penalty provisions of section 271DB and the prescribed mode of electronic payments under section 269SU of the Income Tax Act.
With an aim to hold control over black money transaction and also to promote the digital transactions, the provisions of section 269ST of the Income Tax Act were introduced and made effective from 1st April 2017. The provisions of section 269ST mandate specific modes of undertaking transactions. In case the person fails to comply with […]
Understand the penalty for failure to collect tax at source (TCS) as per section 271CA of the Income Tax Act. Learn how to avoid this penalty and the amount payable.
Understand the penalty for contravening provisions of section 269SS. Learn about the applicability, authority, and amount of penalty under section 271D of the Income Tax Act.
