TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendments in Companies Act: Penalties for Non-Compliance Under Section 89 Include Daily Fines and Exemptions for Certain Classes.</h1> Section 89 of the Companies (Amendment) Act, 2020 introduces amendments regarding penalties for non-compliance. Sub-section (5) imposes a penalty of fifty thousand rupees for failure to declare as required, with an additional two hundred rupees per day for ongoing non-compliance, capped at five lakh rupees. Sub-section (7) mandates a penalty of one thousand rupees per day for companies failing to file returns, with a maximum of five lakh rupees for companies and two lakh rupees for defaulting officers. Sub-section (11) allows the Central Government to exempt certain classes from compliance, except for sub-section (10), if deemed necessary in the public interest.
TaxTMI 
TaxTMI 
