https://www.taxtmi.com/acts?id=17832 Section 271FA prescribes penalties for failure to furnish the annual information return under section 285BA: a penalty of one hundred rupees per day for default in filing within the prescribed time, and an increased penalty of five hundred rupees per day if the return is not furnished within the period specified in a notice under section 285BA(5), beginning the day after the notice period expires; the provision is effective from 1 April 2014 and is directed by the income tax authority under section 285BA(1). en-us Tue, 14 May 2013 15:30:13 +0530 Tue, 18 Nov 2025 13:21:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17832 Section 271FA prescribes penalties for failure to furnish the annual information return under section 285BA: a penalty of one hundred rupees per day for default in filing within the prescribed time, and an increased penalty of five hundred rupees per day if the return is not furnished within the period specified in a notice under section 285BA(5), beginning the day after the notice period expires; the provision is effective from 1 April 2014 and is directed by the income tax authority under section 285BA(1). Act-Rules F. Acts / Amendment Acts Tue, 14 May 2013 15:30:13 +0530 https://www.taxtmi.com/acts?id=17832