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[Cites 0, Cited by 0] [Section 459] [Entire Act]

Union of India - Subsection

Section 459(2) in The Income Tax Act, 2025

(2)If any reporting entity referred to in section 511 fails to produce the information and documents within the period allowed under sub-section (7) of the said section, the prescribed authority under that section may impose on such entity, a penalty of ₹5000 for every day during which the failure continues, beginning from the day immediately following the day on which the period for furnishing the information and document expires.