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TMI BlogFailure to produce accounts and documents - THE FINANCE (No. 2) BILL, 2014X X X X Extracts X X X X X X X X Extracts X X X X ..... Failure to produce accounts and documents - THE FINANCE (No. 2) BILL, 2014 - News and Press Release Dated:- 13-7-2014 - News - Failure to produce accounts and documents The existing provis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions of section 276D of the Act provide that if a person willfully fails to produce accounts and documents as required in any notice issued under sub-section (1) of section 142 or willfully fails to c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... omply with a direction issued to him under sub-section (2A) of section 142, he shall be punishable with rigorous imprisonment for a term which may extend to one year or with fine equal to a sum calcul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated at a rate which shall not be less than four rupees or more than ten rupees for every day during which the default continues, or with both. It is proposed to amend the provisions of the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id section so as to provide that if a person willfully fails to produce accounts and documents as required in any notice issued under sub-section (1) of section 142 or willfully fails to comply with a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... direction issued to him under sub-section (2A) of section 142, he shall be punishable with rigorous imprisonment for a term which may extend to one year and with fine. This amendment will tak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e effect from 1st October, 2014. [Clause 69] - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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