Crypto-asset transactions: penalties include Rs.200/day for late statements and Rs.50,000 for inaccurate or inadequate due diligence. Substitution of section 446 imposes a Rs. 200 daily penalty for failure to furnish a prescribed statement on crypto-asset transactions and authorises a ... Summary
Crypto-asset transactions: penalties include Rs.200/day for late statements and Rs.50,000 for inaccurate or inadequate due diligence.
Substitution of section 446 imposes a Rs. 200 daily penalty for failure to furnish a prescribed statement on crypto-asset transactions and authorises a Rs. 50,000 penalty where the filer provides inaccurate information and fails to correct it or fails to comply with the due diligence requirement, with penalties imposed by the prescribed income-tax authority.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.