https://www.taxtmi.com/acts?id=48899 The prescribed income-tax authority under section 508 may impose a penalty of fifty thousand rupees on persons required to furnish statements who provide inaccurate information, fail to correct it, or fail to meet due diligence requirements; additionally, a reporting financial institution may be directed to pay an additional per-account sum for each inaccurate reportable account caused by false or inaccurate information from the account holder, and may recover or retain amounts so paid from those account holders. en-us Fri, 14 Feb 2025 14:10:46 +0530 Fri, 14 Feb 2025 14:10:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=48899 The prescribed income-tax authority under section 508 may impose a penalty of fifty thousand rupees on persons required to furnish statements who provide inaccurate information, fail to correct it, or fail to meet due diligence requirements; additionally, a reporting financial institution may be directed to pay an additional per-account sum for each inaccurate reportable account caused by false or inaccurate information from the account holder, and may recover or retain amounts so paid from those account holders. Act-Rules Bills Fri, 14 Feb 2025 14:10:46 +0530 https://www.taxtmi.com/acts?id=48899