Penalty for failure to file annual return increased, imposing initial and daily continuing penalties with a capped maximum liability. The amendment makes a company and every officer in default liable to a primary penalty of fifty thousand rupees for failing to file the annual return ... Summary
Penalty for failure to file annual return increased, imposing initial and daily continuing penalties with a capped maximum liability.
The amendment makes a company and every officer in default liable to a primary penalty of fifty thousand rupees for failing to file the annual return within the specified period, and to a continuing penalty of one hundred rupees per day after the first day of default, subject to a maximum of five lakh rupees.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
