Monetary Limit

what is the monetary limit for levy of penalty by wealth tax officer of the rank of ITO where no approval of JCIT / Addl. cit is required?
Replies (2)
Quick Summary
This discussion clarifies the monetary limit for penalty imposition by a Wealth Tax Officer of the rank of Income Tax Officer (ITO). It establishes that an ITO can levy a penalty up to Rs. 10,000 without requiring the approval of a Joint Commissioner of Income Tax (JCIT) or Additional Commissioner of Income Tax (Addl. CIT).

FOR ITO 10000 RS
Thanku Sir.

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