https://www.taxtmi.com/acts?id=50847 The amendment prescribes a monthly penalty equal to two percent of the assessed tax for each month of default, subject to an aggregate cap of fifty percent of the assessed tax, and defines assessed tax as tax reduced by sums deducted at source and sums paid in advance under the relevant chapters. en-us Wed, 16 Apr 2025 14:20:05 +0530 Wed, 16 Apr 2025 14:20:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50847 The amendment prescribes a monthly penalty equal to two percent of the assessed tax for each month of default, subject to an aggregate cap of fifty percent of the assessed tax, and defines assessed tax as tax reduced by sums deducted at source and sums paid in advance under the relevant chapters. Act-Rules F. Acts / Amendment Acts Wed, 16 Apr 2025 14:20:05 +0530 https://www.taxtmi.com/acts?id=50847