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of <h1>Finance Bill 2022 amends Section 272A, raising non-compliance penalties from 100 to 500, effective April 2022.</h1> Clause 78 of the Finance Bill, 2022 proposes an amendment to section 272A of the Income-tax Act. This amendment increases the penalty for non-compliance, such as failing to answer questions, sign statements, furnish information, or allow inspections, from one hundred rupees to five hundred rupees. The revised penalty structure is set to take effect from 1st April, 2022.
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