What is cumulative penalty ?

This query is : Resolved 

26 October 2011 Sir

If under one section penalty is Rs. 5000/day for a default & in another section it is Rs.500/day, further the penalties are cumulative, then what would be the penalty for a single day default ?

27 October 2011 Penalty will be attracted in your question of both the Section i.e Rs. 5000/- and as well as Rs. 500/- per day till the default continues.

Plz quote the Sections also, under which penalty you are talking about.

Regards
CS Mukta Suyal

27 October 2011 Expert

I am talking about penalty u/s 283(2A) & penalty u/s 272 for acting as a director by a person after vacation of office


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