Tuesday, 16 December 2014 00:00

Penalty for Non-Compliance of Provision of PAN

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PENALITY FOR NON COMPLIANCE OF PROVISIONS OF PAN:-

SECTION 272B provides for penalty in case of default by the taxpayer in complying with the provisions relating to PAN, i.e., not obtaining PAN, even though he is liable to obtain PAN or knowingly quoting incorrect PAN in any prescribed document in which PAN is to be quoted or intimating incorrect PAN to the person deducing tax or person collecting tax. Penalty of Rs.10,000 undersection 272B can be levied

Last modified on Thursday, 18 December 2014 13:02