ilmscore | This mistake could cost you a 200% penalty

This mistake could cost you a 200% penalty

Published: 2025-07-03
Status: Analyzed

Predictions from this Video

Total: 6
Correct: 0
Incorrect: 0
Pending: 6
Prediction
Topic
Status
Form 16 will no longer be sufficient for tax filings.
"Form 16 alone will not suffice."
Tax Filings
Pending
Taxpayers opting for the old tax regime will be required to provide proper proof for every deduction.
"If you are choosing the old tax regime, you will have to provide proper proof of every deduction."
Tax Deductions
Pending
For health insurance deductions, the insurer's name and policy number will be mandatory submissions.
"But now the name of the insurer, policy number etc. will have to be submitted."
Health Insurance Deductions
Pending
Claiming incorrect deductions could result in a 200% penalty, 24% annual interest, and prosecution under section 276C.
"So there can be 200% penalty, 24% annual interest and prosecution under section 276C."
Tax Penalties
Pending
The Income Tax Return (ITR) filing deadline has been extended to September 15, 2025.
"the ITR deadline has now been extended to 15th of September 2025."
Income Tax Return (ITR) Deadline
Pending
The Income Tax Return (ITR) deadline is extended to September 15, 2025.
"And yes, the ITR deadline has now been extended to 15th of September 2025."
Tax Deadlines
Pending