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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amended Section 271AA: Penalty for Non-Compliance with Section 92D(4) Info Requirements Set at 500,000 Rupees.</h1> Section 271AA of the Income-tax Act was amended by the Finance Act, 2016, effective April 1, 2017. The section was renumbered as sub-section (1), and the phrase 'section 270A or' was inserted after 'without prejudice to the provisions of.' A new sub-section (2) was added, stipulating that failure to furnish required information and documents under section 92D(4) may result in a penalty of five hundred thousand rupees, as directed by the prescribed income-tax authority.
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