Annual information return: penalties of Rs100/day, rising to Rs500/day after notice, effective 1 April 2014. Section 271FA prescribes penalties for failure to furnish the annual information return under section 285BA: a penalty of one hundred rupees per day for default in filing within the prescribed time, and an increased penalty of five hundred rupees per day if the return is not furnished within the period specified in a notice under section 285BA(5), beginning the day after the notice period expires; the provision is effective from 1 April 2014 and is directed by the income tax authority under section 285BA(1).