Tag Archives: 200% Tax Penalty

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

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 »