Insider trading
hardeep (article) (199 Points)
12 April 2018
What is the minimun penalty for insider trading as per sec 195 of Company act 2013 and SEBI regulation.
4 Replies
CA Naveen Chand
(Chartered Accountant)
(12729 Points)
Replied 12 April 2018
Following will be the consequences for non compliance of section 195
a. Disallowance of the particular expenses u/s.40a(i) if the TDS not at all deducted
b. If the TDS is deducted but not paid within time lime then interest @ 1.50 per month or part of the month from the date of deduction to date of deposit (Sec.201 (1A)
c. If the TDS deducted and not paid – Penalty equivalent to the TDS amount Sec.221
d. TDS deducted short – Penalty equivalent to difference between actual deductible and deducted amount Sec.271C .
hardeep
(article)
(199 Points)
Replied 12 April 2018
I am askig for sec 195 of Company act 2013 not income tax act.
sanjay
(dsds)
(19 Points)
Replied 12 April 2018
A. Imprisonment 5 yrs OR,
B. fine 5 Lakhs (min) to 25 crores (max) or 3 times of profit made whichever is higher OR,
C. Both.
B. fine 5 Lakhs (min) to 25 crores (max) or 3 times of profit made whichever is higher OR,
C. Both.
hardeep
(article)
(199 Points)
Replied 12 April 2018
but as per sec 15G of SEBI minimum is 10 lac..
so which one correct??.. 5 lac or 10 lac..
so which one correct??.. 5 lac or 10 lac..
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