https://www.taxtmi.com/acts?id=23601 A new provision imposes a fee for default in furnishing return of income where a person required to file under section 139(1) fails to do so within the prescribed time, applicable for assessment years beginning on or after 1 April 2018. It establishes a two-tier fee for delayed filing-a lower fee if filed on or before 31 December of the assessment year and a higher fee in other cases-and caps the fee where the taxpayer's total income does not exceed the statutory threshold. en-us Wed, 01 Feb 2017 18:05:08 +0530 Thu, 02 Feb 2017 16:52:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=23601 A new provision imposes a fee for default in furnishing return of income where a person required to file under section 139(1) fails to do so within the prescribed time, applicable for assessment years beginning on or after 1 April 2018. It establishes a two-tier fee for delayed filing-a lower fee if filed on or before 31 December of the assessment year and a higher fee in other cases-and caps the fee where the taxpayer's total income does not exceed the statutory threshold. Act-Rules Bill Wed, 01 Feb 2017 18:05:08 +0530 https://www.taxtmi.com/acts?id=23601