Section 276 - Penalty for Non-compliance of Section 235
Where any person fails to comply with any notice or summons under section 235, the Deputy Commissioner of Taxes may impose a fine not exceeding 1% (one percent) of the value of each international transaction carried out by the person on such person.
Note: This is unofficial English translation. In the event of a conflict between the information on this website and the original Government publications or notifications of laws, rules, regulations, and SROs, the Government publications or notifications shall prevail. Moreover, as per Section 345(2) of the Income Tax Act 2023, if there is a conflict between the English and Bengali text, the Bengali text shall prevail.