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
- NSTPI registration
- GST PAID IN DELHI
- How to Trade Forex in India?
- TDS - requirement of TDS by individual under presu
- Normal Register in GST in delhi in gujarat no rece
- ITC availment relationship
- Challan confusion in ITR B block return
- U/s 23 (2)(a) and 23 (2)(b)
- Building a Strong Financial Foundation: Key Accoun
- Long Term Capital Gains for shares
Related Threads
CAclubindia
