https://www.taxtmi.com/acts?id=31763 Amendment inserts a monetary and turnover-based threshold into section 447 limiting the scope of the fraud offence to amounts "at least ten lakh rupees or one per cent. of the turnover of the company, whichever is lower," and adds a proviso that frauds below that threshold which do not involve public interest attract imprisonment up to five years or fine up to twenty lakh rupees or both. en-us Thu, 04 Jan 2018 19:02:23 +0530 Thu, 04 Jan 2018 19:02:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31763 Amendment inserts a monetary and turnover-based threshold into section 447 limiting the scope of the fraud offence to amounts "at least ten lakh rupees or one per cent. of the turnover of the company, whichever is lower," and adds a proviso that frauds below that threshold which do not involve public interest attract imprisonment up to five years or fine up to twenty lakh rupees or both. Act-Rules F. Acts / Amendment Acts Thu, 04 Jan 2018 19:02:23 +0530 https://www.taxtmi.com/acts?id=31763