Guides on Tax/Interest Penalties
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.
This guide by H&R Block India gives all the information regarding various penalties and prosecutions imposed under various sections of the Income Tax Act.
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.
The new section 234E is inserted by the Income Tax Department where a person fails to file the TDS/TCS return on or before the prescribed due dates as per Income Tax Act. Read this guide by H&R Block India to know more about penalties under section 234E.
To know how interest penalties are imposed or calculated for various acts of delay or defaults under Section 234A? Read this guide by H&R Block India.
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.
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.