Banking Cash Transaction Tax
Section - 103 - Penalty for failure to furnish prescribed return
Penalty for failure to furnish prescribed return.103. If an assessee fails to furnish in due time the return which it is required to furnish under sub-section (1) of section 98 or by notice given under sub-section (2) of that section, it shall be liable to pay, by way of penalty, a sum of one hundred rupees for every day during which the failure continues.
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