Chapter XII-DASPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC )
Part CProcedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM )
Chapter XX-BREQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT )
Penalty for failure to furnish statutory report triggers escalating daily penalties and sanctions for inaccurate reporting. Reporting entities required to file reports under section 286 face daily penalties for failure to furnish reports or to produce requested information and ... Summary
Penalty for failure to furnish statutory report triggers escalating daily penalties and sanctions for inaccurate reporting.
Reporting entities required to file reports under section 286 face daily penalties for failure to furnish reports or to produce requested information and documents within the prescribed period; enhanced daily penalties may be imposed if non-compliance continues after an order to pay; a fixed penalty applies where inaccurate information is furnished and the entity knew of the inaccuracy, fails to correct after discovery within the correction period, or furnishes inaccurate material in response to a production notice.
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