Income Tax : Discover the implications of Income Tax Act Section 270A and penalties for under-reporting or misreporting income. Learn calculati...
Income Tax : Grounds of Appeal related to the penalty imposed u/s 271(1)(c) of the Act , 1961 AY 2015-16 1. In the facts and circumstances of t...
Income Tax : Dive into Section 271B's mandates, penalties, and exemptions under the Income Tax Act. Explore real cases, challenges, and strateg...
Income Tax : Learn how to avoid penalties under Section 270A of the Income Tax Act through understanding its provisions and utilizing Section 2...
Income Tax : Explore recent ITAT judgment in Rakesh Kr. Jha vs. ITO, delving into interpretation of Sections 271A and 271B, highlighting confli...
CA, CS, CMA : People are held hostage in a cyber-world with ransom in the form of Late Fees and Interest and a threat to levy penalty or to init...
Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...
Income Tax : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...
Income Tax : A reasonable leniency may be exercised by the AOs to allow the Taxpayer’s who have paid the tax and interest beyond the time lim...
Income Tax : The Finance Bill, 2017 proposes to levy fees of Rs.5,000 in case where return is furnished after the due date but on or before 31S...
Income Tax : Delhi HC: No penalty for New Holland Tractors if assessee's contention was plausible and bona fide, provided full disclosure of fa...
Income Tax : Read the full text of the ITAT Bangalore order in Laxmilal Badolla Vs NFAC. Penalty under Sec 271D cancelled due to reasonable cau...
Income Tax : Penalty u/s. 271D and 271E of the Income Tax Act cannot be imposed if assessment proceedings are quashed. Detailed analysis of Rav...
Income Tax : Read the detailed analysis of Sumit Maheshwari Vs ITO case where ITAT Delhi deletes penalty u/s 271(1)(b) of Income Tax Act due to...
Income Tax : Read the full text of the order from ITAT Agra where penalty u/s 271B was deleted for Tasavver Husain vs ITO. Detailed analysis an...
Company Law : The NFRA fines Shridhar & Associates and CA Ajay Vastani for professional misconduct in auditing RCFL's financials for FY 2018-19....
Income Tax : Order under Para 3 of the Faceless Penalty Scheme, 2021, for defining the scope of ‘Penalties’ to be assigned to the F...
Income Tax : It is a settled position that period of limitation of penalty proceedings under section 271D and 271E of the Act is governed by th...
Income Tax : It has been brought to notice of CBDT that there are conflicting interpretations of various High Courts on the issue whether the l...
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.
Clause 98 of the Finance Bill 2020 has introduced Section 271AAD in the Income Tax Act relating to penalty for (a) a false entry or (b) any entry relevant to computation of total income of such person has been omitted with the intention to evade any tax liability in the books of account maintained by […]
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 […]
The provisions of section 271(1)(c) of the Act are penal in nature and they are required to be strictly construed. These cannot be extended by way of liberal interpretation to include the cases, which otherwise, do not fall within the purview and scope of the provisions of section 271(1)(c) of the Act.
Understand the penalty provisions of section 271DB and the prescribed mode of electronic payments under section 269SU of the Income Tax Act.
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.
Understand the provisions of Section 271C of Income Tax Act, 1961 that impose penalties for TDS failure, non-deduction, or non-payment.
