Tag Archives: Section 272A

Penalty Rs 10000 for failure to comply notice of Income tax

Finance Bill 2016 Amendment of Section 272A Existing provision of Sub-section (1) provides for levy of penalty of ten thousand rupees for each failure or default to answer the questions raised by an income-tax authority under the Income-tax Act, refusal to sign any statement legally required during the proceedings under the Income-tax Act or failure to attend… Read More »