Penalty for failure to furnish statements: monetary sanctions and a limited filing window where tax is paid and statement filed.

A new provision imposes a penalty where a person fails to deliver required statements for tax deducted at source or tax collected at source or furnishes incorrect information in those statements, subject to prescribed minimum and maximum monetary sanctions; a non levy exception applies if tax (with fees and interest) is paid and the statement is delivered within a limited condonation period after the prescribed time.

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