Hi all
is there any penalty under income tax for bank transfer(gpay) around 32 lacs in a year
if so kindly confirm under which section
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177852 Points)
Replied 13 July 2024
Unless the transactions are duly justified, penalty under Section 270A-
- Penalty for under-reporting of income
- Penalty for under-reporting on account of misreporting of income can be imposed.
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