Penalty protection for reasonable cause extended to failures under section 271GB, applying from assessment year 2017-18 onwards. The amendment inserts a reference to section 271GB into section 273B so that penalties under section 271GB are subject to the existing reasonable-cause ... Summary
Penalty protection for reasonable cause extended to failures under section 271GB, applying from assessment year 2017-18 onwards.
The amendment inserts a reference to section 271GB into section 273B so that penalties under section 271GB are subject to the existing reasonable-cause defence in section 273B. This change takes effect from 1 April 2017 and applies to the assessment year 2017-2018 and subsequent years.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
