Fine and Interest as per Nepal Income Tax Act 2058

chapter 22 Fine and Interest
section	Default	Fine
117	records not kept and non submission of return
	non submission of estimated returns (sec 95)	2000.00
	non submission of final return sec 96-self assessment
	natural person	100 per month
	other person	0.1 % of assesable income or Rs 100 per month whichever higher
	if record not retained for 5 years	0.1 % of assesable income or Rs 1000 whichever higher
	if monthly TDS return not submitted in time	1.5% of amount due for each part of month
118	if estimated tax paid as per sec 94 is below defined limit(80% of actual)	15% (general interest rate for each month upto date of return) on the difference amount
119	if tax not paid in time	15%(general interest rate for each month upto date of non payment)
120	false return filing
	if non voluntary and by mistake	50% of the differential tax
	if voluntary done with malafide intension	100% of differential tax
121	supporting for tax evasion	100% amount of evaded amount
	For More Details
	Contact
	Paxton Accounting Consultancy
	Thamel, Nepal
	Tel :9771 4258070, 4249611
	www.paxton.com.np