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of <h1>Finance Bill 2016 Amends Section 272A: Penalty for Non-Compliance with Tax Notices Effective April 1, 2017</h1> Clause 103 of the Finance Bill, 2016 amends section 272A of the Income-tax Act, effective April 1, 2017. It introduces a new clause (d) in sub-section (1), imposing a penalty of ten thousand rupees for failing to comply with notices under section 142(1), section 143(2), or directions under section 142(2A). Sub-section (3) is also amended to specify that the income-tax authority issuing the notice or direction will impose the penalty for violations under clause (d). This amendment applies from the assessment year 2017-2018 onwards.
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