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Is surcharge added for penalty 270A

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Preeti Maurya

1 Points Posted on 17 June 2023

At the time of calculation of penalty u/s 270A penalty imposed on Tax payable amount on under reported income. what will be the definition of Tax payable in this reference. does surcharge and education cess will be added in tax for calculation of penalty or not.

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Quick Summary

This discussion clarifies the calculation of penalties under Section 270A of the Income Tax Act. It confirms that both surcharge and education cess are indeed added to the tax payable amount when determining the penalty on under-reported income. The penalty is calculated based on the difference in tax liability, not just the income difference.