Auditors, valuers to be fined Rs 10,000 for incorrect certificate-The Total Investment & Insurance Solutions

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1 February 2017

Finance Minister Arun Jaitley on Wednesday proposed to penalise accountants, merchant bankers or registered valuers if they provide incorrect information or certificate. The Total Investment & Insurance Solutions

Jaitley also proposed to levy late fee in order to ensure timely filing of income tax returns.

Jaitley presented the Budget 2017-18 in the Lok Sabha. The Total Investment & Insurance Solutions

According to the annexure to the budget speech, the government proposes to provide that if an accountant or a merchant banker or a registered valuer furnishes incorrect information in a report or certificate, he shall be liable to a penalty of Rs 10,000 for each such default. The Total Investment & Insurance Solutions

In order to ensure timely filing of returns of income, it is proposed to levy a fee in case of delay in filing the return, according to the annexure to the budget speech.The Total Investment & Insurance Solutions