Penalty under section 271DB imposes a daily sanction for each day of noncompliance with reporting obligations. Penalty under section 271DB of the Income Tax Act is prescribed as Rs. 5,000 rupees for every day of default, constituting a daily monetary sanction that accrues for each day a specified reporting or compliance obligation remains unfulfilled.
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 under section 271DB imposes a daily sanction for each day of noncompliance with reporting obligations.
Penalty under section 271DB of the Income Tax Act is prescribed as Rs. 5,000 rupees for every day of default, constituting a daily monetary sanction that accrues for each day a specified reporting or compliance obligation remains unfulfilled.
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