Guides on Tax/Interest Penalties

Penalty under Section 271 for Concealment of Income

Income tax department penalises those who conceal their income and do not reply to certain types of notices under section 271. Find all about this section of the Income Tax Act in this guide by H&R Block.

What is Under-reporting and Mis-reporting of Income?

With effect from FY 2017-18, section 270A deals with the penalty ranging from 50% to 200% for under-reporting or mis-reporting of income while section 270AA deals with immunity from the imposition of penalty. This comprehensive guide by H&R Block will help you get a detailed understanding of these sections.

Section 234C of Income Tax Act 1961

Know interest charged for default in payment of Advance Tax instalments u/s 234C. To know more about calculating interest click on this guide by H&R Block.

Section 234B of Income Tax Act

Interest u/s 234B of Income Tax Act is imposed by ITD upon taxpayers for default in payment of Advance Tax. Also know how to calculate 234b interest.

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