https://www.taxtmi.com/acts?id=53731 Section 392 is amended to replace the existing fine-based punishment framework with a penalty structure for contravention. The company is liable to a penalty of one lakh rupees, with an additional daily penalty of five hundred rupees for continuing contravention after the first day, subject to a maximum of five lakh rupees. Every officer of the company in default is liable to a penalty of twenty-five thousand rupees and a continuing daily penalty of two hundred rupees, subject to a maximum of two lakh rupees. en-us Tue, 24 Mar 2026 15:10:34 +0530 Tue, 24 Mar 2026 15:10:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53731 Section 392 is amended to replace the existing fine-based punishment framework with a penalty structure for contravention. The company is liable to a penalty of one lakh rupees, with an additional daily penalty of five hundred rupees for continuing contravention after the first day, subject to a maximum of five lakh rupees. Every officer of the company in default is liable to a penalty of twenty-five thousand rupees and a continuing daily penalty of two hundred rupees, subject to a maximum of two lakh rupees. Act-Rules Bills Tue, 24 Mar 2026 15:10:34 +0530 https://www.taxtmi.com/acts?id=53731