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<h1>Amendment to Section 272A of Income-tax Act: No Penalties for Certain Non-Compliance Post-July 1, 2012.</h1> Clause 99 of the Finance Bill, 2012 proposes an amendment to section 272A of the Income-tax Act, specifically sub-section (2), which addresses penalties for non-compliance in providing information or statements. The amendment introduces a proviso effective from July 1, 2012, stating that no penalty will be imposed for failures related to statements under sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C, concerning tax deducted or collected at source, if these failures occur on or after the specified date.