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of <h1>Penalty for Non-Compliance with Section 285A: 2% of Transaction or ₹500,000 Fine for Indian Concerns</h1> An Indian concern required to furnish information or documents under section 285A that fails to comply may be directed by the income-tax authority to pay a penalty. The penalty is two percent of the transaction value if the failure relates to a transaction transferring management or control rights, or a fixed sum of five hundred thousand rupees in other cases.
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