Section - 271FB (of Income Tax Act, 1961), Penalty for failure to furnish return of fringe benefits
Section - 271FB (of Income Tax Act, 1961), Penalty for failure to furnish return of fringe benefits
Penalty for failure to furnish return of fringe benefits.
If an employer, who is required to furnish a return of fringe benefits, as required under sub-section (1) of section 115WD (of Income Tax Act, 1961), fails to furnish such return within the time prescribed under that sub-section, the Assessing Officer may direct that such employer shall pay, by way of penalty, a sum of one hundred rupees for every day during which the failure continues.
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