Compliance Fee for Delay in Furnishing Statements and Certificates : Clause 429 of Income Tax Bill, 2025 Vs. Section 234G of Income-tax Act, 1961

Fee for delay in furnishing statements requires payment before submission and is capped at the amount concerned.

Clause 429 imposes an administrative fee for failure to deliver or furnish prescribed statements or certificates by scientific research and charitable institutions, accruing daily and capped at the amount in respect of which the failure occurred; payment of the fee is required before the delayed document or certificate may be filed, and the levy operates without prejudice to other consequences under the Act.