Penalty for failure to furnish information return may be imposed daily when return is not filed within the notice period. A person required to furnish an information return under section 117 who fails to do so within the period specified in the notice under sub section (3) ... Summary
Penalty for failure to furnish information return may be imposed daily when return is not filed within the notice period.
A person required to furnish an information return under section 117 who fails to do so within the period specified in the notice under sub section (3) may be directed by the prescribed authority to pay a penalty calculated daily for the period during which the failure continues.
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