Penalty for failure to furnish statement imposes a daily monetary sanction until the required statement is furnished. Where an assessee fails to furnish the statement within the time prescribed under the applicable filing provision, he shall be liable to pay a penalty of ... Summary
Penalty for failure to furnish statement imposes a daily monetary sanction until the required statement is furnished.
Where an assessee fails to furnish the statement within the time prescribed under the applicable filing provision, he shall be liable to pay a penalty of one hundred rupees for each day during which the failure continues, accruing daily until the statement is furnished in accordance with the prescribed procedure.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.