Penalty under section 271AA: charge on international and specified domestic transactions; fixed sanction for failure to furnish information. Penalty under Section 271AA is equal to two percent of the value of each international transaction or specified domestic transaction entered into by the taxpayer. If a constituent entity of an international group fails to furnish information and documents as required under Section 92D(4), the Director General of Income tax (Risk Assessment) may impose a fixed penalty of five lakh rupees for that failure.