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of <h1>Finance Bill 2019 amends Section 272B of Income-tax Act, imposing penalties for non-compliance with PAN/Aadhaar quoting rules.</h1> Clause 64 of the Finance (No. 2) Bill, 2019, amends section 272B of the Income-tax Act to include penalties for non-compliance with section 139A regarding the quoting and authentication of permanent account numbers or Aadhaar numbers. The amendment specifies a penalty of ten thousand rupees for each instance of non-compliance or false quoting. New sub-sections (2A) and (2B) are introduced, allowing the Assessing Officer to impose penalties for failures in quoting or authenticating these numbers in required documents. These changes are effective from September 1, 2019, and ensure individuals are heard before penalties are imposed.
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