Penalty for failure to furnish information return may be imposed per day after notice, subject to a statutory cap. The proper officer may direct payment of a daily penalty for failure to furnish an information return after the notice period specified under the procedural provision; the penalty accrues for each day of continued non compliance but is subject to an overall statutory cap.
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 per day after notice, subject to a statutory cap.
The proper officer may direct payment of a daily penalty for failure to furnish an information return after the notice period specified under the procedural provision; the penalty accrues for each day of continued non compliance but is subject to an overall statutory cap.
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