https://www.taxtmi.com/acts?id=52006 Penalty for failure to furnish a statement under section 505 may be imposed by the assessing officer where a person does not file the required statement within the prescribed period, using a two-tier regime of a daily penalty for continued short-term default and a larger fixed penalty for longer default. en-us Thu, 14 Aug 2025 18:31:45 +0530 Mon, 08 Sep 2025 15:09:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=52006 Penalty for failure to furnish a statement under section 505 may be imposed by the assessing officer where a person does not file the required statement within the prescribed period, using a two-tier regime of a daily penalty for continued short-term default and a larger fixed penalty for longer default. Act-Rules Income Tax Thu, 14 Aug 2025 18:31:45 +0530 https://www.taxtmi.com/acts?id=52006