Additional tax paid under section 140B(3A) will not be used as basis for penalty under section 270A. The amendment provides that income on which additional income-tax is paid pursuant to the separate adjustment mechanism shall not form the basis for ... Summary
Additional tax paid under section 140B(3A) will not be used as basis for penalty under section 270A.
The amendment provides that income on which additional income-tax is paid pursuant to the separate adjustment mechanism shall not form the basis for imposition of penalty for under reporting or misreporting; this exclusion operates retrospectively from 1 March 2026.
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