Penalty for failure to furnish information return may be imposed per day with an overall statutory cap. Failure to furnish an information return when required permits the proper officer to direct a per day monetary penalty for each day the failure continues, ... Summary
Penalty for failure to furnish information return may be imposed per day with an overall statutory cap.
Failure to furnish an information return when required permits the proper officer to direct a per day monetary penalty for each day the failure continues, subject to a maximum aggregate limit, and contingent on the notice period specified under the Act's notice provision.
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