TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Manuals
of of All Manuals
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Penalties for Non-Compliance with Equalisation Levy: Fines for Non-Deduction, Non-Payment, and Late Filing under Sections 166 & 166A.</h1> Penalties under the Equalisation Levy, as per the Finance Act 2016, include fines for failing to deduct or pay the levy. If a party fails to deduct the levy under Section 166, they face a penalty equal to the amount not deducted. Similarly, failing to pay the levy under Section 166A incurs a penalty equal to the unpaid amount. Not remitting the levy to the government by the due date results in a daily penalty of 1,000, capped at the unpaid levy amount. Failure to file a return by the deadline incurs a penalty of 100 per day. Penalties may be waived if a reasonable cause is demonstrated.
TaxTMI 
TaxTMI 
