Penalty increase raises prescribed fines for specified tax defaults, enhancing monetary sanctions under income tax law for noncompliance. Amendment increases prescribed penalties under section 271FA of the Income-tax Act by substituting the lower and higher specified monetary amounts, ... Summary
Penalty increase raises prescribed fines for specified tax defaults, enhancing monetary sanctions under income tax law for noncompliance.
Amendment increases prescribed penalties under section 271FA of the Income-tax Act by substituting the lower and higher specified monetary amounts, raising the statutory monetary sanctions applicable to the defaults covered by that provision.
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