09-15-2010, 09:13 PM
G nahi
for ur info
Where any person fails to furnish a return within the due date
Such person shall pay a penalty of five thousand rupees.
Any person who fails to deposit the amount of tax due or any part thereof in the time or manner laid down under this Act or rules or orders made thereunder.
Such person shall pay a penalty of ten thousand rupees or five per cent of the amount of the tax involved, whichever is higher
Provided that, if the amount of tax or any part thereof is paid within fifteen days from the due date, the defaulter shall pay a penalty of five hundred rupees for each day of default
Provided further that no penalty shall be imposed when any miscalculation is made for the first time during a year
for ur info
Where any person fails to furnish a return within the due date
Such person shall pay a penalty of five thousand rupees.
Any person who fails to deposit the amount of tax due or any part thereof in the time or manner laid down under this Act or rules or orders made thereunder.
Such person shall pay a penalty of ten thousand rupees or five per cent of the amount of the tax involved, whichever is higher
Provided that, if the amount of tax or any part thereof is paid within fifteen days from the due date, the defaulter shall pay a penalty of five hundred rupees for each day of default
Provided further that no penalty shall be imposed when any miscalculation is made for the first time during a year
