Penalty for MAT

What is the penalty for non uploading of MAT report within due date?
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Quick Summary
This discussion explores the penalties for failing to submit the MAT (Minimum Alternate Tax) report by the due date. While industry practice often suggests a penalty of ₹10,000, the specific act does not explicitly mention this fine. The core question is how to justify this penalty if there's no clear legal section addressing non-filing of Form 29B.

10000rs as per industry practice. However, act does not specify for the same
If tgere us no specific section which talks about penalty on nin filing of Form 29B then how we can clarify that Rs.10000 is the penalty as per industry practice?

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