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of <h1>Penalty for Investment Funds Not Submitting Required Documents Under Section 271FAB of the Income-tax Act</h1> Section 271FAB of the Income-tax Act, introduced by the Finance Act, 2015, effective from April 1, 2016, imposes a penalty on eligible investment funds that fail to furnish required statements, information, or documents as mandated under sub-section (5) of section 9A. If a fund does not comply within the prescribed time, the designated income-tax authority may impose a penalty of five hundred thousand rupees.
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