Penalty for failure to furnish return imposed where a required income tax return is not filed by the due date. The newly inserted section 271F imposes a fixed monetary penalty for failure to furnish an income tax return when filing is required by the proviso to sub ... Summary
Penalty for failure to furnish return imposed where a required income tax return is not filed by the due date.
The newly inserted section 271F imposes a fixed monetary penalty for failure to furnish an income tax return when filing is required by the proviso to sub section (1) of section 139; a person who does not file the required return on or before the due date becomes liable to pay the prescribed penalty for non filing.
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