TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Clause 452 removes proviso to section 187, exposing taxpayers to Rs.5,000 daily electronic payment penalty without statutory defence</h1> Clause 452 imposes a Rs.5,000 daily penalty for failure to provide prescribed electronic payment facilities under section 187; the originally introduced bill included a proviso allowing a person to avoid the penalty by proving a 'good and sufficient reason' for non-compliance, but the enacted Income-Tax Act omits that proviso. The change removes an explicit statutory defence, increasing exposure to automatic daily penalties and shifting practical reliance onto general administrative discretion, procedural safeguards, or other provisions; affected persons should document outages and reasons promptly given the heightened enforcement risk.
TaxTMI 
TaxTMI 