Insertion of new section 270A - Penalty for underreporting and ...

Bill

March 2, 2016

Insertion of new section 270A - Penalty for underreporting and misreporting of income. - tax payable on under-reported income shall be calculated as if such under-reported income was the total income in case of a company, firm or local authority, and at the rate of thirty per cent. of under-reported income in any other case based on the tax rate applicable in case of company, firm or local authority, and in other cases.

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Insertion of new section 270A - Penalty for underreporting and ...

Bill

March 2, 2016

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