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​Threshold limits under Income-tax Act

Various provisions of the Income-tax Act contain reference to threshold limits. These threshold limits may include maximum exemption limit, limit of exemptions or deductions from income, allowances received as a part of salary which is exempt from tax, fees for filing an appeal, and so forth. This document contains brief introduction to all relevant provisions and their threshold limits.

Limitation periods

​ Income-tax Act provides various due dates and limitation periods for various compliances. The document will help you to know beforehand the upcoming compliances, so that you can make hassle free compliances with all provisions.

Penalties

​​ Default in compliances with the provisions of the Income-tax Act or for violation of certain conditions would attract certain penalty. The document will provide you information about the punishable offences and the quantum of penalties that can be levied under the law.

Penalties and Prosecutions

Default in complying with provisions of or with conditions prescribed under the Income-tax Act would attract certain penalty and in critical cases prosecutions as well. The document will provide you information about the punishable offences, prosecutions and the quantum of penalties that can be imposed under the law.

Advisory: Information relates to the law prevailing in the year of publication/ as indicated . Viewers are advised to ascertain the correct position/prevailing law before relying upon any document.
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