Penalty for failure to furnish information under section 195 allows assessing officer to impose a prescribed monetary penalty for noncompliance. A person required to furnish information under subsection (6) of section 195 who fails to furnish such information or furnishes inaccurate information is ... Summary
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Penalty for failure to furnish information under section 195 allows assessing officer to impose a prescribed monetary penalty for noncompliance.
A person required to furnish information under subsection (6) of section 195 who fails to furnish such information or furnishes inaccurate information is liable to a statutory penalty, and the Assessing Officer may direct that the person pay the prescribed monetary penalty for that failure.
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