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| Home > Indian Bare Acts > Income Tax Act - 1961 > Failure to subscribe to the eligible issue of capital. |
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| Income Tax Act - 1961 |
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Title : Income Tax Act - 1961
Year : 1961
Act :
271BB. Failure to subscribe to the eligible issue of capital. Whoever fails to subscribe any amount of subscription to the units issued under any scheme referred to in sub-section (1) of section 88A to the eligible issue of capital under that sub-section within the period of six months specified therein, may be directed by the Deputy Commissioner to pay, by way of penalty, a sum equal to twenty per cent. of such amount.
Last updated on February, 2008
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