https://www.taxtmi.com/acts?id=53199 Sections 427 and 428 impose fees for failures to furnish tax statements, returns, audited accounts and accountant reports: section 427 levies Rs. 200 per day for late statements (capped at tax deductible/collectible; Rs. 200/day cap of Rs. 100,000 for financial transaction/reportable account statements); section 428 prescribes income tiered fixed fees for late returns (Rs. 1,000/ Rs. 5,000), and specified fees for delayed audit reports (Rs. 75,000 up to one month; Rs. 150,000 thereafter) and accountant reports (Rs. 50,000 up to one month; Rs. 100,000 thereafter). en-us Sun, 01 Feb 2026 15:29:54 +0530 Sun, 01 Feb 2026 15:29:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53199 Sections 427 and 428 impose fees for failures to furnish tax statements, returns, audited accounts and accountant reports: section 427 levies Rs. 200 per day for late statements (capped at tax deductible/collectible; Rs. 200/day cap of Rs. 100,000 for financial transaction/reportable account statements); section 428 prescribes income tiered fixed fees for late returns (Rs. 1,000/ Rs. 5,000), and specified fees for delayed audit reports (Rs. 75,000 up to one month; Rs. 150,000 thereafter) and accountant reports (Rs. 50,000 up to one month; Rs. 100,000 thereafter). Act-Rules Bills Sun, 01 Feb 2026 15:29:54 +0530 https://www.taxtmi.com/acts?id=53199