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<h1>Non-resident entity with liaison office faces identical penalty structures under Section 271GC and Clause 460 for reporting failures</h1> A non-resident entity with a liaison office faces enforcement of reporting obligations under new tax legislation. The Income Tax Bill 2025's Clause 460 and the Income Tax Act 1961's Section 271GC impose identical penalty structures for failing to submit required statements within prescribed periods. Penalties include one thousand rupees daily for failures up to three months, or one lakh rupees for longer defaults. Both provisions grant discretionary authority to Assessing Officers and maintain similar enforcement mechanisms, with the primary difference being reference to different parent sections governing statement submission requirements.