https://www.taxtmi.com/acts?id=53871 Substitutes sections 427 and 428 of the Income-tax Act to impose fees for default in furnishing prescribed statements, returns, audited accounts and reports. Failure to deliver a statement within time attracts a daily fee until compliance, subject to a ceiling, and the fee must be paid before the statement is furnished. Default in filing a return of income, completing audit obligations, or furnishing an accountant's report attracts graded fees linked to the nature of the default and the period of delay. en-us Tue, 31 Mar 2026 15:49:50 +0530 Tue, 31 Mar 2026 15:49:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53871 Substitutes sections 427 and 428 of the Income-tax Act to impose fees for default in furnishing prescribed statements, returns, audited accounts and reports. Failure to deliver a statement within time attracts a daily fee until compliance, subject to a ceiling, and the fee must be paid before the statement is furnished. Default in filing a return of income, completing audit obligations, or furnishing an accountant's report attracts graded fees linked to the nature of the default and the period of delay. Act-Rules F. Acts / Amendment Acts Tue, 31 Mar 2026 15:49:50 +0530 https://www.taxtmi.com/acts?id=53871