Failure to furnish returns: threshold for prosecution increased and self-assessment plus deducted/collected tax considered. The proviso to section 276CC is amended to define tax payable for non-company taxpayers as the tax on total income determined on regular assessment reduced by advance tax or self-assessment tax paid before the expiry of the assessment year and any tax deducted or collected at source, and to increase the prosecutorial threshold from three thousand rupees to ten thousand rupees, effective from 1 April 2020 for the assessment year 2020-2021 onwards.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Failure to furnish returns: threshold for prosecution increased and self-assessment plus deducted/collected tax considered.
The proviso to section 276CC is amended to define tax payable for non-company taxpayers as the tax on total income determined on regular assessment reduced by advance tax or self-assessment tax paid before the expiry of the assessment year and any tax deducted or collected at source, and to increase the prosecutorial threshold from three thousand rupees to ten thousand rupees, effective from 1 April 2020 for the assessment year 2020-2021 onwards.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
