alleryStart learning →Voluntary payment before a section 74 notice carries what penalty rate (original text)?
A5 percent of tax
B10 percent of tax
C25 percent of tax
D15 percent of tax
Answer & Solution
Correct answer: D. 15 percent of tax
Section 74(5) lets the person pay voluntarily before notice with fifteen percent penalty, after which no notice is served on that tax.
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