If under one section penalty is Rs. 5000/day for a default & in another section it is Rs.500/day, further the penalties are cumulative, then what would be the penalty for a single day default ?
27 October 2011
Penalty will be attracted in your question of both the Section i.e Rs. 5000/- and as well as Rs. 500/- per day till the default continues.
Plz quote the Sections also, under which penalty you are talking about.
CAclubindia
