https://www.taxtmi.com/acts?id=52005 Section 459 establishes a graduated penalty regime for reporting entities under section 511: daily penalties apply for failure to furnish the required report and for failure to produce information and documents within the period allowed under section 511(7); a higher daily penalty may be imposed if either failure continues after service of an order imposing penalty; and a significant fixed penalty applies where a reporting entity furnishes inaccurate information and either knew of the inaccuracy, fails to correct after discovery within the prescribed period, or furnishes inaccurate material in response to a section 511(7) notice. en-us Thu, 14 Aug 2025 18:31:36 +0530 Mon, 08 Sep 2025 15:05:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=52005 Section 459 establishes a graduated penalty regime for reporting entities under section 511: daily penalties apply for failure to furnish the required report and for failure to produce information and documents within the period allowed under section 511(7); a higher daily penalty may be imposed if either failure continues after service of an order imposing penalty; and a significant fixed penalty applies where a reporting entity furnishes inaccurate information and either knew of the inaccuracy, fails to correct after discovery within the prescribed period, or furnishes inaccurate material in response to a section 511(7) notice. Act-Rules Income Tax Thu, 14 Aug 2025 18:31:36 +0530 https://www.taxtmi.com/acts?id=52005