penal provisions under Incometax Act, Income Tax

[JOSEP MICHEALSELVARAJ]

Query

under section 270A of Income tax Act, provides penalty for under reporting and misreporting of Income of Assessee.

Can we distinguish the term under reported Income and Misreported Income? Then the situation for under reported Income and mis reported Income sir?

Posts / Replies

[MARIAPPAN GOVINDARAJAN]

Under reporting is reporting the less income than the real income. Misreporting is false report of income or misdeclaration of income.

[Ganeshan Kalyani]

Section 270A

:

Penalty for under-reporting and misreporting of income.