Penalty for failure to furnish return of income

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..... of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees.] 2 [ Provided that nothing contained in this section shall apply to and in relation to the return of income required to be furnished for any assessment year commencing on or after the 1st day of April, 2018. ] ------------------------- .....

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..... o furnish such return on or before the due date, he shall be liable to pay, by way of penalty, a sum of five thousand rupees. 2. Inserted vide THE FINANCE ACT, 2017 w.e.f. 1st day of April, 2018 - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - T .....

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