Income Tax Return Filing: Missed deadline or furnished wrong information? You may face fine, jail term
Income Tax Returns filing: Under section 270A, an assessee has to pay penalty at the rate of 200% of the tax sought to be evaded by under-reporting of income.
Income Tax Returns filing: In some cases, the defaulter may face a jail term of a minimum duration of 3 months to maximum up to 7 years. Pixabay image