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Penalty Calculation /s 270A - Illustration

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Income per Return u/s 139  -->Rs.20 Lakhs

Income per Return u/s 148 --> Rs.26 Lakhs

Income Assessed Finally --> Rs.33 Lakhs

Penalty u/s 270A will be charged on Rs.7Lakhs(Rs.33Lakhs minus Rs.26Lakhs). Kindly confirm.

 

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Penalty will be over Rs. 13L.... 


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