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272A(2)
Is the Penalty of Rs 100 per day amended to Rs 500per day?
Replies (1)
Amendment proposed in the provisions in S. 272A of the Income Tax Act, vide Clause 78 of the Finance Bill 2022 (budget 2022-23), to enhance penalty from Rs. 100 per day to Rs. 500 per day, to act as adequate deterrence against non-compliance:This amendments will take effect from 1st April, 2022.
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