07 May 2011
Can any body clarify that wheather the maximum penalty (which is increased from Rs. 2000 to Rs. 20000) is applicable to the returns submitted now, however pertaining to period prior to 31/03/2011?
08 May 2011
Maximum is a control on the authority of the Assessing Officer while he is fully empowered to impose any amount within that maximum, that may depend upon the amount of Tax so delayed !
CAclubindia
