Obligation to furnish information returns imposes mandated reporting and a daily penalty for failure to comply after notice. Insertion of sections 15A and 15B imposes an obligation to furnish information returns by specified persons and authorities who maintain records or periodic returns under any law, in the prescribed time, form (including electronic) and manner to the prescribed authority; defects may be intimated with thirty days for rectification, failure of which treats the return as not submitted; a notice may require submission within up to ninety days and failure to comply after such notice attracts a daily penalty imposed by the prescribed authority.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Obligation to furnish information returns imposes mandated reporting and a daily penalty for failure to comply after notice.
Insertion of sections 15A and 15B imposes an obligation to furnish information returns by specified persons and authorities who maintain records or periodic returns under any law, in the prescribed time, form (including electronic) and manner to the prescribed authority; defects may be intimated with thirty days for rectification, failure of which treats the return as not submitted; a notice may require submission within up to ninety days and failure to comply after such notice attracts a daily penalty imposed by the prescribed authority.
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