Penalty for failure to furnish information return: daily charge for continued non filing, capped by statutory maximum. A statutory penalty regime applies where a person required to furnish an information return under section 150 fails to comply with a notice specifying the ... Summary
Penalty for failure to furnish information return: daily charge for continued non filing, capped by statutory maximum.
A statutory penalty regime applies where a person required to furnish an information return under section 150 fails to comply with a notice specifying the filing period, permitting the proper officer to direct imposition of a daily penalty for each day the failure continues, subject to a statutory upper limit.
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