This penalty is charged if a person has wrongly claimed the benefit of Composition Scheme

He will be liable to pay

Tax Payable Under Normal Schem

+

Penalty equal to Amount of Such tax

  1. Taxation for CA, CS, CMA Bcom M Com Exams May - June 2018
  2. GST for Exams
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About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .