Whether the benefit of bonafide mistake will be available for determining penalty u/s 270A?
The benefit of bonafide mistake: The Income Tax Act, 1961, imposes penalties for various tax-related defaults. One such penalty is levied under Section 270A of the Act for failure to pay tax deducted at source (TDS) or tax collected at source (TCS) on time. In certain cases, taxpayers may argue that the failure…
