Tax Penalty

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  Income Tax Audit Deadline Today: Check These Forms Before It's Too Late

  Under the provisions applicable to assessment year 2026-27, businesses require a tax audit if their turnover or gross receipts exceed Rs 1 crore.

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  IndiGo Faces Rs 117 Crore Penalty Related To Input Tax Credit

  IndiGo on Tuesday said it has been slapped with a penalty of Rs 117.52 crore related to input tax credit and the airline will challenge the ruling.

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  Filing Income Tax Return? One Wrong Move Could Cost You Rs 1.5 Lakh

  Filing income tax returns requires attention to detail to avoid penalties and defects. Choosing the right tax regime, verifying forms like 26AS and 16, and e-verifying returns are crucial steps.

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  IndiGo Faces Rs 944 Crore Tax Penalty, Terms It "Erroneous"

  With the Income Tax Department imposing a penalty of Rs 944.20 crore on IndiGo, India's largest airline has termed the order "erroneous" and vowed to challenge it legally.

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  IndiGo Slapped With Rs 944 Crore Tax Penalty, Calls It ‘Erroneous’

  The Indian aviation major received a penalty order from tax authorities under Section 270A of the Income Tax Act.

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  LIC Faces Two More GST Penalties From Tamil Nadu And Telangana Authorities

  These recent penalties follow other tax notices from Maharashtra and J&K authorities issued to LIC in recent weeks.

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  Congress Moves Delhi High Court In Tax Penalty Case

  The Congress on Monday moved the Delhi High Court challenging the dismissal of its plea by the Income Tax Appellate Tribunal (ITAT) against the imposition of penalties for discrepancies in certain tax returns.

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  Find Out The Penalty Charges You Have To Pay For Missing Income Tax Deadline

  Penalty charges for missing income tax deadline: An income tax return not furnished by the due date set by the Income Tax Department is called a belated return. A belated return of income is furnished under section 139(4) of the Income Tax Act.

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  200% Penalty On Unexplained High Deposits May Be Slapped Before Tax Filing

  Income Tax Department may slap a hefty 200 per cent penalty on unexplained high cash deposits in banks even before annual tax returns are filed, Finance Ministry said.

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  200% Penalty On Unexplained High Deposits May Be Slapped Before Tax Filing

  Income Tax Department may slap a hefty 200 per cent penalty on unexplained high cash deposits in banks even before annual tax returns are filed, Finance Ministry said.

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  Penalty Charges You Have To Bear For Delayed Income Tax Return

  Belated income tax return: The taxman has stipulated a penalty amount ranging from Rs 5,000 to Rs 10,000 for filing of income tax return for assessment year 2018-19 after August 31, 2018. The amount of money charged as penalty or fine for a belated ITR increases based on the degree of delay.

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  Cash Transactions: Here Are The Limits And Penalties Under The Income Tax Rules

  The government has set various limits on cash transactions to combat black money. Know the cash transactions that may invite serious penalties.

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  UK PM Rishi Sunak Never Paid Penalty To Tax Office, Says His Office

  British Prime Minister Rishi Sunak has never paid a penalty to the country's tax office, his office said.

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  Cash Transactions: Here Are The Limits And Penalties Under The Income Tax Rules

  The government has set various limits on cash transactions to combat black money. Know the cash transactions that may invite serious penalties.

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  Find Out The Penalty Charges You Have To Pay For Missing Income Tax Deadline

  Penalty charges for missing income tax deadline: An income tax return not furnished by the due date set by the Income Tax Department is called a belated return. A belated return of income is furnished under section 139(4) of the Income Tax Act.