National

Penalty for giving false PAN

NEW DELHI FEB. 28. The Government today said from June 1, 2002, a penalty of Rs. 10,000 will be imposed on tax assessees quoting false PAN (permanent account number).

This sum would be levied if they fail to comply with the provisions of Section 139A of the Income Tax Act relating to PAN.

Besides, a penalty of Rs. 5,000 would be imposed for failure to furnish return of income under Section 139 (1) before the end of the assessment year.

PTI

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