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Bill - Highlights / Catch Notes

Home Highlights March 2016 Year 2016 This

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. - Sub-section (6) of the proposed new section seeks to provide that under - reported income under this section shall not include certain cases mentioned therein.

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  2. Insertion of new section 270A - Penalty for underreporting and misreporting of income. - Appropriate provisions to cover minimum alternate tax and alternate minimum tax cases

  3. Insertion of new section 270A - Penalty for underreporting and misreporting of income. - the cases of under-reported income falling under misreporting of income shall be...

  4. Insertion of new section 270A - Penalty for underreporting and misreporting of income. - tax payable on under-reported income shall be calculated as if such...

  5. Penalty u/s 270A - imposition of penalty for under-reporting and misreporting of income - an addition made on the basis of estimation cannot provide foundation for...

  6. Penalty u/s 270A - under-reporting of income - the assessee’s case would squarely fall under the exception provided u/s 270A(6)(a) wherein, the assessee had given its...

  7. Insertion of new section 270A - Penalty for underreporting and misreporting of income. - rate of penalty shall be fifty per cent. of the tax payable on under-reported income.

  8. Penalty u/s 270A - immunity u/s 270AA - misreporting of income - there is not even a whisper as to which limb of Section 270A of the Act is attracted and how the...

  9. Insertion of new section 270A - Levy of Penalty for under reporting and misreporting of income - Paradigm shift from the existing policy of levy of penalty on account of...

  10. Penalty levied u/s 270A - misreporting of income - Since AO failed to bring the addition/disallowance he made in quantum assessment, under the ken of (a) to (f) of the...

 

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