Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Non-compliance with Section 8 of Interest-tax Act, 1974, leads to penalties ranging from 1,000 to 25,000 per instance.</h1> Section 23 of the Interest-tax Act, 1974, stipulates that any person who fails, without reasonable cause, to produce required accounts or documents under section 8 is subject to a penalty. The penalty imposed will be no less than one thousand rupees and may extend up to twenty-five thousand rupees for each instance of non-compliance.
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