Section 456 — Penalty for failure to furnish statement or information or document by an eligible investment fund
Old Act equivalent: Section 271FAB of IT Act 1961 Sub-part: A—Penalties
Statutory Text
- If any eligible investment fund required to furnish a statement or any information or document under paragraph 4 of Schedule I, fails to do so within the time prescribed under the said paragraph, the income-tax authority prescribed under the said paragraph may direct that such fund shall pay, by way of penalty, a sum of ` 500000. Penalty for failure to furnish information or document under section 171.
Provisos
None.
Explanations
None.
Tables
None.
Key Structure
- Applies to: Eligible investment fund required to furnish statement or information or document.
- Conditions: Failure to furnish statement, information, or document within prescribed time.
- Time limits: None specified.
- Monetary limits: As prescribed.
- Exceptions: None.
Cross-References
- Section 171
Amendment Notes
None noted from the extracted pages.