Income Tax Section - 271FB, Income Tax Act, 1961-2021

                                                                             Income Tax

    Section - 271FB,  Income Tax Act, 1961-2021

Penalty for failure to furnish return of fringe benefits.

271FB. If an employer, who is required to furnish a return of fringe benefits, as required under sub-section (1) of section 115WD, fails to furnish such return within the time prescribed under that sub-section, the Assessing Officer may direct that such employer shall pay, by way of penalty, a sum of one hundred rupees for every day during which the failure continues.