Penalty for failure to furnish information return may be imposed daily when return is not filed within the notice period. A person required to furnish an information return under section 117 who fails to do so within the period specified in the notice under sub section (3) may be directed by the prescribed authority to pay a penalty calculated daily for the period during which the failure continues.
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.
Penalty for failure to furnish information return may be imposed daily when return is not filed within the notice period.
A person required to furnish an information return under section 117 who fails to do so within the period specified in the notice under sub section (3) may be directed by the prescribed authority to pay a penalty calculated daily for the period during which the failure continues.
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