Contractor information requirement: failure to report triggers daily fines and reporting to tax authorities imposed promptly. Insertion of section 285A obliges contractors entering into construction or related supply contracts above a specified value to furnish prescribed particulars to the jurisdictional Income-tax Officer within one month of making the contract; non-compliance permits the Commissioner to impose a daily fine subject to an aggregate cap expressed as a percentage of the contract value, and the Commissioner must immediately send a copy of any fine order to the Income-tax Officer.
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.
Contractor information requirement: failure to report triggers daily fines and reporting to tax authorities imposed promptly.
Insertion of section 285A obliges contractors entering into construction or related supply contracts above a specified value to furnish prescribed particulars to the jurisdictional Income-tax Officer within one month of making the contract; non-compliance permits the Commissioner to impose a daily fine subject to an aggregate cap expressed as a percentage of the contract value, and the Commissioner must immediately send a copy of any fine order to the Income-tax Officer.
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