https://www.taxtmi.com/article/detailed?id=15880 Clause 83 substitutes Sections 427 and 428 to create a structured fee regime for delayed tax reporting: Section 427 imposes a uniform daily fee for late withholding tax statements and financial transaction reports with statutory caps to protect proportionality; Section 428 consolidates fees for late returns, late revised returns beyond an early window, failure to furnish audit reports, and delayed accountant certifications, using graded and income linked charges to incentivise timely compliance. All fees are payable before submission of the delayed documents and the regime takes effect from April 1, 2026. en-us Sat, 14 Feb 2026 08:30:28 +0530 Sat, 14 Feb 2026 08:30:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15880 Clause 83 substitutes Sections 427 and 428 to create a structured fee regime for delayed tax reporting: Section 427 imposes a uniform daily fee for late withholding tax statements and financial transaction reports with statutory caps to protect proportionality; Section 428 consolidates fees for late returns, late revised returns beyond an early window, failure to furnish audit reports, and delayed accountant certifications, using graded and income linked charges to incentivise timely compliance. All fees are payable before submission of the delayed documents and the regime takes effect from April 1, 2026. Articles Budget - Tax Proposals Sat, 14 Feb 2026 08:30:28 +0530 https://www.taxtmi.com/article/detailed?id=15880