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December 10, 2020

Penalty Levied For Not Furnishing Return Of Income Under Income Tax Act,1961

Penalty Levied For Not Furnishing Return Of Income Under Income Tax Act,1961 Under the old provisions i.e. Section 271F of IT Act applicable for income tax returns filed up to Financial Year 2016-17, taxpayers who late file their income tax return could be subject to a penalty of Rs.5000. However, the penalty of Rs.5000 for late … Read more