Question ID :
Notice recd for Non filing of SFT
The entity has not filed the SFT and now the entity has received the notice to filed the SFT .
1) My question is that what are the consequences of Non Filing of SFT .
2) If the Entity has filied the SFT in reply to the notice is there any way to waive the penalty u/s 271 FA ,
Please give the advise on this issue.
Answer ID :
GOPAL KUMAR AGRAWAL
Jul 27, 2021
Penalty is Rs.500/- per day of default and if not filed within extended due date, specified in the notice Rs. 1000/- per day of default. If the SFT is filed in reply to notice, penalty cannot be waived, but levied at Rs. 500/- per day of default.
CA. chunauti dholakia on
Aug 03, 2021