Authorities held that filing incorrect statutory forms attracts penalty even if later correction is sought. The ruling reinforces that rectification does not erase liability for defective filings under company law.
Form 41 is now compulsory for non-residents claiming DTAA benefits, replacing Form 10F. The update mandates online filing and ensures standardized disclosure for availing treaty benefits.
Notices are increasingly triggered by AIS/TIS mismatches and automated systems. Accurate reporting and reconciliation are key to avoiding issues.
