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of <h1>New Guidelines: Individual Tax Penalties of Rs. 5000+ Must Be Published, Not Cumulative Across Years.</h1> The circular clarifies the publication requirements for assessees penalized under the Income Tax Act, 1961. It specifies that only individual penalties of Rs. 5000 or more, imposed during a specific financial year, should be published in the Gazette of India and local newspapers. This corrects a misinterpretation where cumulative penalties across multiple assessment years were considered for publication. The directive ensures that only penalties meeting the threshold individually within a single financial year are disclosed, emphasizing accurate and compliant reporting by tax authorities.
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