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, 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.]

¹ Subs. by Act 20 of 2002, s. 102, for section 271F (w.e.f. 1-6-2002).

² Ins. by Act 7 of 2017, s. 86 (w.e.f. 1-4-2018).

³ Subs. by Act 17 of 2013, s. 58, for section 271FA (w.e.f. 1-4-2014).

⁴ Subs. by Act 25 of 2014, s. 70, for “annual information return” (w.e.f. 1-4-2015).

⁵ Subs. by s. 70, ibid., for “an annual information return” (w.e.f. 1-4-2015).

⁶ Subs. by s. 70, ibid., for “return” (w.e.f. 1-4-2015).

⁷ Subs. by Act 13 of 2018, s. 53, for “one hundred rupees” (w.e.f. 1-4-2018).

⁸ Subs. by s. 53, ibid., for “five hundred rupees” (w.e.f. 1-4-2018).

⁹ Ins. by Act 25 of 2014, s. 71 (w.e.f. 1-4-2015).

¹⁰ Ins. by Act 20 of 2015, s. 73 (w.e.f. 1-4-2016). 11. Ins. by Act 18 of 2005, s. 59 (w.e.f. 1-4-2006).