Helo i want know the consequences if an educational trust having not exceeding its chargeable total income but has default in filling of its income tax return. please tell me the consequences . thank you
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Default in filling return by trust
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There are various reason for default such as-
- Fail to furnish income before end of relevant assessment year as required under section 139(1) of income tax,
- concealment of particulars of income
for better understanding follow the below link i hope u can take more conceptual judgement.
https://wirc-icai.org/wirc_referencer/income%20tax%20&%20wealth%20tax/Penalties.htm
https://wirc-icai.org/wirc_referencer/income%20tax%20&%20wealth%20tax/Penalties.htm
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