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<h1>Entities May Face Penalty for Not Providing Donation Statements or Certificates Under Section 271K of Income Tax Act</h1> Penalty under Section 271K of the Income Tax Act may be imposed if there is a failure to deliver a statement of donation or furnish a certificate of donation by certain entities. These entities include research associations, universities, colleges, or other institutions mentioned in Section 35(1)(ii) or Section 35(1)(iii), companies referred to in Section 35(1)(iia), and any institution or fund mentioned in Section 80G.