124AA. Penalty for failure to verify Taxpayer’s Identification Number

1[124AA. Penalty for failure to verify Taxpayer’s Identification Number, etc.-

Where a person, without reasonable cause, fails to comply with the provision of sub-section (5) or (6) of section 184A, the Deputy Commissioner of Taxes or any other income tax authority authorised by the Board for this purpose may impose upon such person a penalty-

(a) not exceeding two lakh taka in the case of non-compliance with the provision of sub-section (5);

(b) not exceeding fifty thousand taka in the case of noncompliance with the provision of sub-section (6).]

 

2[124AA. Penalty for failure to verify Taxpayer’s Identification Number.-

Where a person, responsible for verification of the authenticity of twelve-digit Taxpayer’s Identification Number (TIN) in accordance with the provision of sub-section (2) of section 184A of this Ordinance, has, without reasonable cause, failed to comply with such requirement under that provision, the Deputy Commissioner of Taxes or any other income tax authority authorised by the Board for this purpose, as the case may be, may impose upon such person a penalty not exceeding taka fifty thousand.]

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Ins  by F. A. 2017

1 Ins new section 124AA by F. A. 2015

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