Just a moment...

⚠✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Keyword Search :
AI Tools : New
Ask tax questions in natural language. Powered by AI trained on the TaxTMI legal database. Use AI Tools ➞
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
    6. Text Search
  6. The system will try to fetch results that contains ALL your words.
  7. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
    8. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 Highlights - Adv. Search ❯
TEXT SEARCH:

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In:
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Law:
---- All Laws----❯
  • ---- All Laws----
  • Income Tax
  • Direct Taxes
  • Benami Property
  • Central GST Laws
  • SGST - State GST Laws
  • Customs
  • FTP - Foreign Trade Policy
  • SEZ - Special Economic Zone
  • FEMA - Foreign Exchange Management
  • Companies Law
  • SEBI - Securities & Exchange Board of India
  • IBC - Insolvency and Bankruptcy
  • Law of Competition
  • PMLA - Money-Laundering
  • Indian Laws
  • Bill / Finance Bills
  • Wealth Tax
  • Service Tax
  • Central Excise
  • VAT / Sales Tax
Month:
---- All Months ----❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ----❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
RelevanceDefaultDate
    July 28, 2024   NotesBill
    Budget: Introducing Direct Tax Vivad se Vishwas Scheme 2024 for settling tax disputes, reducing litigation cost-effectively.
    July 28, 2024   NotesBill
    2% equalisation levy on e-commerce operators' consideration ends 1/8/2024. E-commerce income from 1/4/2020-31/7/2024 tax-exempt.
    July 28, 2024   NotesBill
    Budget: No penalties for not disclosing foreign assets (excl. property) up to Rs. 20L in ITRs. Effective 1st Oct 2024. :
    July 28, 2024   NotesBill
    Budget: No prosecution for TDS non-payment if paid by statement filing due date. Decriminalizes offence from Oct 2024.
    July 28, 2024   NotesBill
    Income Tax Act Amendments: Six-Year Limit on Orders for Assessee Default u/ss 201 & 206C Effective April 2025.
    July 28, 2024   NotesBill
    Budget: Income Tax Act amended to process statements like Form 26QF from entities other than deductors. Scheme to be formulated by Board.
    July 28, 2024   NotesBill
    Budget: Proposed amendments to sections 197, 194Q, 206C(9), and 206C(1H) aim to ease business & reduce compliance burden for large transactions. :
    July 28, 2024   NotesBill
    Budget: Exempt entities like non-profits face hurdles due to TCS on transactions. Govt can notify exemptions/lower TCS rates for them. Effective Oct '...
    July 28, 2024   NotesBill
    Budget: TDS/TCS correction statements restricted after 6 years from original filing year. Aimed at certainty & curbing misuse. Effective Apr 1, 2025.
    July 28, 2024   NotesBill
    Budget: No penalty if TDS/TCS paid with fees & interest within 1 month of due date, not 1 year. Better compliance from 1/4/2025.
    July 28, 2024   NotesBill
    Budget: Non-resident liaison offices in India must file annual statements or face penalties up to Rs. 1 lakh after 3 months. Effective 01/04/2025.
    July 28, 2024   NotesBill
    Budget: TPO can determine arm's length price for unreported domestic transactions. Sections 92CA amended to enable this from AY 2025-26.
    July 28, 2024   NotesBill
    Budget: Quoting Aadhaar Enrolment ID for PAN/ITR discontinued from Oct 1, 2024. Provide Aadhaar number to avoid PAN duplication/misuse.
    July 28, 2024   NotesBill
    Budget: Pending applications before BAR can be withdrawn by Oct 31, 2024, if no order passed. BAR may reject by Dec 31, 2024. Effective Oct 1, 2024.
    July 28, 2024   NotesBill
    Budget: If taxpayer unresponsive, Commissioner can set aside assessment order for fresh assessment. Time limit for disposal of such cases amended.
    July 28, 2024   NotesBill
    Budget: Amendments clarify penalties for inaccurate info/non-compliance with due diligence under AEoI. Rs. 50K fine for errors/failures. Defense allow...
    July 28, 2024   NotesBill
    Budget: Tax clearance certificate now mandatory for outstanding liabilities under Black Money Act before leaving India.
    July 28, 2024   NotesBill
    Proposed Income Tax Act changes streamline deadlines for assessments and reassessments, effective October 2024.
    July 28, 2024   NotesBill
    Proposed amendment allows tax deduction for donations to National Sports Development Fund from 2025-26.
    July 28, 2024   NotesBill
    Proposed Bill Amends Income Tax Act, Removes National Housing Bank References, Affects Financial Institutions.
❮
❯
❯❯
MaximizeMaximizeMaximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

    +

    Are you sure you want to delete "My most important" ?

    NOTE:

    Open Link
    Highlights
    All› Bill / Finance Bills
    Showing Results for :
    Reset Filters
    Results Found:
    Show All SummariesHide All Summaries
    July 28, 2024   Notes Bill
    Budget: Introducing Direct Tax Vivad se Vishwas Scheme 2024 for settling tax disputes, reducing litigation cost-effectively.
    July 28, 2024   Notes Bill
    2% equalisation levy on e-commerce operators' consideration ends 1/8/2024. E-commerce income from 1/4/2020-31/7/2024 tax-exempt.
    July 28, 2024   Notes Bill
    Budget: No penalties for not disclosing foreign assets (excl. property) up to Rs. 20L in ITRs. Effective 1st Oct 2024. :
    July 28, 2024   Notes Bill
    Budget: No prosecution for TDS non-payment if paid by statement filing due date. Decriminalizes offence from Oct 2024.
    July 28, 2024   Notes Bill
    Income Tax Act Amendments: Six-Year Limit on Orders for Assessee Default u/ss 201 & 206C Effective April 2025.
    July 28, 2024   Notes Bill
    Budget: Income Tax Act amended to process statements like Form 26QF from entities other than deductors. Scheme to be formulated by Board.
    July 28, 2024   Notes Bill
    Budget: Proposed amendments to sections 197, 194Q, 206C(9), and 206C(1H) aim to ease business & reduce compliance burden for large transactions. :
    July 28, 2024   Notes Bill
    Budget: Exempt entities like non-profits face hurdles due to TCS on transactions. Govt can notify exemptions/lower TCS rates for them. Effective Oct '24.
    July 28, 2024   Notes Bill
    Budget: TDS/TCS correction statements restricted after 6 years from original filing year. Aimed at certainty & curbing misuse. Effective Apr 1, 2025.
    July 28, 2024   Notes Bill
    Budget: No penalty if TDS/TCS paid with fees & interest within 1 month of due date, not 1 year. Better compliance from 1/4/2025.
    July 28, 2024   Notes Bill
    Budget: Non-resident liaison offices in India must file annual statements or face penalties up to Rs. 1 lakh after 3 months. Effective 01/04/2025.
    July 28, 2024   Notes Bill
    Budget: TPO can determine arm's length price for unreported domestic transactions. Sections 92CA amended to enable this from AY 2025-26.
    July 28, 2024   Notes Bill
    Budget: Quoting Aadhaar Enrolment ID for PAN/ITR discontinued from Oct 1, 2024. Provide Aadhaar number to avoid PAN duplication/misuse.
    July 28, 2024   Notes Bill
    Budget: Pending applications before BAR can be withdrawn by Oct 31, 2024, if no order passed. BAR may reject by Dec 31, 2024. Effective Oct 1, 2024.
    July 28, 2024   Notes Bill
    Budget: If taxpayer unresponsive, Commissioner can set aside assessment order for fresh assessment. Time limit for disposal of such cases amended.
    July 28, 2024   Notes Bill
    Budget: Amendments clarify penalties for inaccurate info/non-compliance with due diligence under AEoI. Rs. 50K fine for errors/failures. Defense allowed.
    July 28, 2024   Notes Bill
    Budget: Tax clearance certificate now mandatory for outstanding liabilities under Black Money Act before leaving India.
    July 28, 2024   Notes Bill
    Proposed Income Tax Act changes streamline deadlines for assessments and reassessments, effective October 2024.
    July 28, 2024   Notes Bill
    Proposed amendment allows tax deduction for donations to National Sports Development Fund from 2025-26.
    July 28, 2024   Notes Bill
    Proposed Bill Amends Income Tax Act, Removes National Housing Bank References, Affects Financial Institutions.

    Highlights

    All› Bill / Finance Bills
    Back

    All Highlights

    Showing Results for :
    Reset Filters
      No Records Found

      Highlights

      Home› Highlights › Bill › 2016 › March, 2016 › This
      Back

      All Highlights

      whatsappJoin Channel
      Showing Results for : Reset Filters
      Bill

      Insertion of new section 270A - Penalty for underreporting and...

      Section 270A Introduces 200% Penalty for Underreporting and Misreporting Income, Including Failure to Record Receipts in Accounts.

      Contents
      Summary
      Note

      Note

      -

      Bookmark

      Print

      Print

      Print Options

      BillMarch 2, 2016Act-Rules
      Insertion of new section 270A - Penalty for underreporting and misreporting of income. - failure to record any receipt in books of account having a bearing on total income will form misreporting of income and would attract 200% penalty.
      View Source View

      Topics

      ActsIncome Tax
      Next ➔