https://www.taxtmi.com/acts?id=50188 A new provision imposes a penalty where a person, without reasonable cause, fails to keep, maintain or retain books of account and other documents required by the bookkeeping rules; a tax authority may direct a penalty calculated as a proportion of the tax that would have been avoided if the declared income were accepted, with specified minimum and maximum proportional limits and without prejudice to existing penalties under the Act. en-us Wed, 05 Mar 2025 14:57:41 +0530 Wed, 05 Mar 2025 14:57:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50188 A new provision imposes a penalty where a person, without reasonable cause, fails to keep, maintain or retain books of account and other documents required by the bookkeeping rules; a tax authority may direct a penalty calculated as a proportion of the tax that would have been avoided if the declared income were accepted, with specified minimum and maximum proportional limits and without prejudice to existing penalties under the Act. Act-Rules F. Acts / Amendment Acts Wed, 05 Mar 2025 14:57:41 +0530 https://www.taxtmi.com/acts?id=50188