Section 452 — Penalty for failure to comply with provisions of section 187
Old Act equivalent: Section 271E of IT Act 1961 Sub-part: A—Penalties
Statutory Text
- The Assessing Officer may impose on a person, a penalty of ` 5000 for every day of the duration of failure where he fails to provide a facility for accepting payments through the prescribed electronic modes of payment, as referred to in section 187. Penalty for failure to comply with provisions of section 188.
Provisos
None.
Explanations
None.
Tables
None.
Key Structure
- Applies to: Person who repays loan/deposit otherwise than in accordance with section 187.
- Conditions: Repaying loan/deposit/specified advance in cash exceeding prescribed limit.
- Time limits: None specified.
- Monetary limits: Sum equal to the amount repaid.
- Exceptions: Penalty imposable by Joint Commissioner.
Cross-References
- Section 187
- Section 188
Amendment Notes
None noted from the extracted pages.