alleryStart learning →The penalty for default under section 39(3) or (4) is Rs 1,000 per day, subject to a maximum of:
ARs 50,000
BRs 1 lakh
CRs 5 lakh
DRs 25 lakh
Answer & Solution
Correct answer: B. Rs 1 lakh
Section 39(5) caps the daily penalty of one thousand rupees at one lakh rupees, whichever is less.
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