Penalties and Prosecutions under the Income tax Act

• September 28, 2019
• CA Chandan Agarwal's Office

IS THE LEVY OF PENALTY AUTOMATIC?

No penalty under the Income-tax Act is imposed unless the person concerned has been given reasonable opportunity of being heard.

WHAT IS THE MINIMUM AND MAXIMUM PENALTY LEVIABLE?

The quantum of penalty leviable depends upon the nature of default. The relevant sections of income-tax Act prescribe the minimum and maximum penalties which can be levied. For some defaults penalty amount is presesibed per day of delay or default

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