Penalty for failure to furnish information requires eligible investment funds to pay a prescribed penalty for noncompliance. An eligible investment fund obliged under Schedule I to furnish a statement, information or document within the prescribed time incurs a fixed statutory penalty for failure to comply; the income tax authority empowered under Schedule I may direct imposition of that penalty as an enforcement measure.
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 requires eligible investment funds to pay a prescribed penalty for noncompliance.
An eligible investment fund obliged under Schedule I to furnish a statement, information or document within the prescribed time incurs a fixed statutory penalty for failure to comply; the income tax authority empowered under Schedule I may direct imposition of that penalty as an enforcement measure.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.