Penalty for failure to furnish statement: eligible investment funds face prescribed penalty under Income-tax Act for missing required disclosures. If an eligible investment fund required to furnish a statement or any information or document under subsection (5) of section 9A fails to do so within the ... Summary
Penalty for failure to furnish statement: eligible investment funds face prescribed penalty under Income-tax Act for missing required disclosures.
If an eligible investment fund required to furnish a statement or any information or document under subsection (5) of section 9A fails to do so within the prescribed time, the income-tax authority prescribed under that subsection may direct that the fund pay, by way of penalty, a sum of five hundred thousand rupees.
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