Podcast
Questions and Answers
In case of adulteration of books of record to enable tax evasion, what punishment is prescribed under the Act?
In case of adulteration of books of record to enable tax evasion, what punishment is prescribed under the Act?
- Up to 2 years rigorous imprisonment
- Fine or up to 3 years rigorous imprisonment (correct)
- Up to 7 years rigorous imprisonment
- Fine only
What is the maximum period of rigorous imprisonment for a citizen found guilty of conveying a false statement or record under the Act?
What is the maximum period of rigorous imprisonment for a citizen found guilty of conveying a false statement or record under the Act?
- 6 months
- 90 days
- 7 years (correct)
- 2 years
What kind of punishment is imposed under Section 277A of the Act?
What kind of punishment is imposed under Section 277A of the Act?
- Monetary fine
- Community service
- Death penalty
- Rigorous imprisonment (correct)
If a citizen aids another person in dodging taxes by falsifying records, what penalty might they face under the Act?
If a citizen aids another person in dodging taxes by falsifying records, what penalty might they face under the Act?
What is the minimum period of rigorous imprisonment specified under the Act for conveying a false statement or record?
What is the minimum period of rigorous imprisonment specified under the Act for conveying a false statement or record?
Under which section would a person be penalized for not paying the profit distribution tax (DDT) to the Central Government?
Under which section would a person be penalized for not paying the profit distribution tax (DDT) to the Central Government?
What is the minimum duration of thorough detainment that an individual may face for willful attempt to evade tax, penalty, or interest?
What is the minimum duration of thorough detainment that an individual may face for willful attempt to evade tax, penalty, or interest?
What penalty might an individual face for failing to pay the tax deducted by them to the Central Government?
What penalty might an individual face for failing to pay the tax deducted by them to the Central Government?
Which section of the Money Act 2023 provides for detention in case of failure to file the income tax return?
Which section of the Money Act 2023 provides for detention in case of failure to file the income tax return?
In what situation would an individual be liable for thorough detainment as per the content?
In what situation would an individual be liable for thorough detainment as per the content?
Under which section would a person be penalized for not paying tax on payments made for transfer of virtual digital asset?
Under which section would a person be penalized for not paying tax on payments made for transfer of virtual digital asset?
What is the maximum duration for which an individual can be detained for an offense under the Personal Tax Act?
What is the maximum duration for which an individual can be detained for an offense under the Personal Tax Act?
According to segment 278B, when will an individual be considered at fault for an offense committed by an organization under the Personal Tax Act?
According to segment 278B, when will an individual be considered at fault for an offense committed by an organization under the Personal Tax Act?
Under the Personal Tax Act, who else besides the organization can be held liable for an offense committed by the organization?
Under the Personal Tax Act, who else besides the organization can be held liable for an offense committed by the organization?
In what situation will an individual not be considered at fault for an offense committed by an organization under the Personal Tax Act?
In what situation will an individual not be considered at fault for an offense committed by an organization under the Personal Tax Act?
What additional factor can lead to an individual being considered at fault for an offense committed by an organization under the Personal Tax Act?
What additional factor can lead to an individual being considered at fault for an offense committed by an organization under the Personal Tax Act?
What is one possible defense an individual can use to avoid being considered at fault for an offense under the Personal Tax Act?
What is one possible defense an individual can use to avoid being considered at fault for an offense under the Personal Tax Act?
