Penalty for failure to comply establishes per-default and daily fines for noncooperation with income-tax compliance obligations. The substituted section 272A prescribes monetary penalties for failures to cooperate with tax proceedings: sub-section (1) imposes per-default penalties ... Summary
Penalty for failure to comply establishes per-default and daily fines for noncooperation with income-tax compliance obligations.
The substituted section 272A prescribes monetary penalties for failures to cooperate with tax proceedings: sub-section (1) imposes per-default penalties for refusal to answer questions, sign statements, or comply with summonses or section 139A; sub-section (2) imposes daily penalties for failures to comply with specified notices, filing and registration inspections, return and declaration obligations, certificate and tax deduction duties; sub-section (3) allocates which rank of income-tax authority may impose penalties; sub-section (4) mandates an opportunity to be heard, and the section defines "income-tax authority" to include specified tax officials exercising Code of Civil Procedure powers under section 131(1).
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