a foreign company has been contravening Section 394 for the past 4 years due to ignorance of the law. Penalty under Section 598 states a maximum of Rs.10,000 and for continuing default Rs. 1000 per day. What is the maximum limit for this continuing default? or can the penalty go upto any amount??
Menu
section 594
Replies (3)
According to sec 598 in case of continuing offence, ADDITIONAL fine may extend to Rs.1000/- per day during which the default continues,,,,,,,,,,,
so max penalty for continuing offence can go upto any limit......
Regards,
CS Manish Soni
so der is no limit? and how long can the company continue to contravene before a winding up order is given
Hi Sneha,
Yes, there is no limit of penalty under Section 598
Recent Threads
- Accounting of Govt Grant in aid-Assam Tea Estate
- Utilizing Capital gains in new home construction
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- ITRs for AY 2025-26 filed in September 2025 not pr
- Heard & Seen Around – Your Daily Economi
- Best NISM course for an Accountant
- Calculate IT on LTCG AND STCG for the FY 2025-26
- Heard and Seen Around - Your Daily Economic Quick
- Returning to India - Residency confusion
Related Threads
CAclubindia
