If a penalty is imposed under the Income-tax Act, 2025 for failure to furnish a TDS/TCS statement…
The minimum penalty is ₹10,000 and the maximum is ₹1,00,000, giving 10 thousand and 1 lakh. Section 461 of the Income-tax Act, 2025 authorises the Assessing Officer to…
Choose your answer
If a penalty is imposed under the Income-tax Act, 2025 for failure to furnish a TDS/TCS statement within the prescribed time, its minimum amount is __________ thousand Indian rupees and its maximum amount is __________ lakh rupees.
Answer and explanation
Correct answer B
The minimum penalty is ₹10,000 and the maximum is ₹1,00,000, giving 10 thousand and 1 lakh. Section 461 of the Income-tax Act, 2025 authorises the Assessing Officer to impose this penalty; the penalty is distinct from a late-filing fee.
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Jammu & Kashmir and Ladakh SET (JKSET/LASET)