Penalty for failure to furnish information return subjects non-compliance to a daily capped penalty after notice. Where a person required to furnish an information return under section 150 fails to do so within the period specified in a notice issued under subsection ... Summary
Penalty for failure to furnish information return subjects non-compliance to a daily capped penalty after notice.
Where a person required to furnish an information return under section 150 fails to do so within the period specified in a notice issued under subsection (3), the proper officer may direct imposition of a daily penalty for the period of non compliance, subject to an overall ceiling on the total penalty.
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