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Commerce · Q557

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 557

Q557

Which of the following penalty has been prescribed under the Income-tax Law for quoting incorrect Tax Deduction Account Number or Tax Collection Account Number (as the case may be)?

A.
Rs. 5,000
B.
Rs. 10,000
C.
No penalty
Answer
D.
Depends upon the situation

Answer: Option C

Solution

Answer: Option C
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