Penalty for Non-Payment of Self-Assessment Tax Under Income Tax Act Sections 140A(3) and 221 is Discretionary, Not Automatic.

Penalty for Non-Payment of Self-Assessment Tax Under Income Tax Act Sections 140A(3) and 221 is Discretionary, Not Automatic. https://www.taxtmi.com/highlights?id=24425 Penalty u/s.140A(3) r.w.s. 221 - assessee failed to pay self-assessment tax - levy of penalty by the u/s.221(1) is discretionary and not automatic. - for levy of penalty u/s. 221 such default must be wilful and not merely accidental. - AT en-us Thu, 27 Aug 2015 09:00:27 +0530 Thu, 27 Aug 2015 09:00:27 +0530 TaxTMI RSS Generator Penalty for Non-Payment of Self-Assessment Tax Under Income Tax Act Sections 140A(3) and 221 is Discretionary, Not Automatic. https://www.taxtmi.com/highlights?id=24425 Penalty u/s.140A(3) r.w.s. 221 - assessee failed to pay self-assessment tax - levy of penalty by the u/s.221(1) is discretionary and not automatic. - for levy of penalty u/s. 221 such default must be wilful and not merely accidental. - AT Highlights Income Tax Thu, 27 Aug 2015 09:00:27 +0530 https://www.taxtmi.com/highlights?id=24425