One has to pay the income tax as per his tax liability. And, this tax liability depends upon the income tax slab in which the person falls in. Having said that, if the person does not pay the income tax as per his income tax slab rate, then he will have to pay an income tax penalty. This penalty is determined by the Assessing Officer. In any case, the amount of this penalty will not be more than the amount of the tax arrears. So, to avoid income tax penalties, make sure that you pay the tax amount as per your Income Tax Slab.
Also Read: Changes in New Tax Regime: All You Need To Know
