Section 140 : Penalty for failure to furnish information return – Miscellaneous Provisions

Published by Team@HostBooks at Last Updated on August 8th, 2018 at 2:44 pm Published on June 10, 2017

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140. Penalty for failure to furnish information return

If a person who is required to furnish an information return under section 139 fails to do so within the period specified in the notice issued under sub-section (3) thereof, the prescribed authority may direct that such person shall pay, by way of penalty, a sum of one hundred rupees for each day of the period during which the failure to furnish such return continues.

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Arpita Bora is leading the content writing team at HostBooks Limited. She has pursued her Masters in Commerce. With over 4.5 years of experience in technical and creative writing, she specializes in both long and short-form digital content.