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How Section 271H Ensures Timely Filing of TDS/TCS Statements

Section 271H of the Income Tax Act, 1961, provides for penalties in cases where there is a failure to furnish certain statements or reports, such as TDS (Tax Deducted at Source) or TCS (Tax Collected at Source) statements. This

Who Is Liable for Tax Offenses Under Section 278B?

Section 278B of the Income Tax Act, 1961, lays down the framework for holding individuals accountable for offenses committed by companies and Hindu Undivided Families (HUFs). It ensures that responsibility is assigned to those who oversee and control the

Corporate Tax Penalties: What You Need to Know

The Income Tax Act, 1961, imposes stringent penalties and prosecution measures to ensure corporate compliance with tax laws. Companies found in violation of these provisions face severe consequences, ranging from monetary fines to criminal prosecution. This blog provides a

How Taxpayers Can Defend Themselves Under Section 278A

Tax evasion is a serious offense under the Income Tax Act, 1961, and Sections 276C and 276CC provide for stringent prosecution measures to penalize willful defaulters. These sections aim to deter fraudulent practices and ensure compliance with tax laws.

A Complete Guide to Prosecution Under Sections 276C and 276CC

Conditions and Benefits of Immunity Under Section 273AA

Section 273AA of the Income Tax Act, 1961, provides taxpayers with a significant opportunity to avoid prosecution for certain offenses under the Act. This provision empowers tax authorities to grant immunity from prosecution if the taxpayer meets specified conditions.

A Taxpayer’s Guide to Seeking Relief Under Section 270AA

Section 270AA of the Income Tax Act, 1961, offers taxpayers an opportunity to seek immunity from penalties for under-reported income, as well as protection from prosecution under certain conditions. This provision encourages taxpayers to accept their tax liabilities and

How Can Penalties Be Reduced or Waived Under Section 273A?

Section 273A of the Income Tax Act, 1961, empowers the Principal Commissioner or Commissioner of Income Tax to reduce or waive penalties in specific circumstances. This provision offers relief to taxpayers who make genuine efforts to comply with tax

Section 273B Explained: Relief From Penalties for Genuine Hardships

Section 273B of the Income Tax Act, 1961, serves as a relief mechanism for taxpayers who fail to comply with certain provisions of the Act due to a reasonable cause. This section ensures that penalties are not imposed arbitrarily

Income Tax Penalty Timelines: What You Need to Know

The Income Tax Act, 1961, provides specific timelines within which penalties must be imposed to ensure procedural fairness and compliance with tax laws. These timelines vary depending on the type of penalty and the related assessment proceedings. Understanding these

Category: Penalties And prosecutions