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<h1>Investment funds must submit required tax documents on time or face ₹500,000 penalty under income tax rules.</h1> An eligible investment fund required to submit a statement, information, or document under the specified tax provision must do so within the prescribed timeframe. Failure to comply allows the designated income-tax authority to impose a penalty of five hundred thousand rupees on the fund. This penalty provision aims to ensure timely and accurate reporting by such funds under the income tax regulations.