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of <h1>Finance Bill 2012 amends Section 271G to extend penalties to specified domestic transactions from April 1, 2013.</h1> Clause 97 of the Finance Bill, 2012 amends section 271G of the Income-tax Act to include 'specified domestic transaction' alongside 'international transaction' for penalty provisions. Previously, section 271G imposed a penalty of two percent of the transaction value for failing to provide required information or documents related to international transactions under section 92D. The amendment extends this penalty to specified domestic transactions, effective from April 1, 2013, applicable to the assessment year 2013-2014 and onwards.
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