Section 271FAB - Penalty for failure to furnish statement or information or document by an eligible investment fund - Income-tax Act, 1961

1 [ Penalty for failure to furnish statement or information or document by an eligible investment fund 271FAB. If any eligible investment fund which is required to furnish a statement or any information or document, as required under sub-section (5) of section 9A fails to furnish such statement or information or document within the time prescribed under that sub-section, the income-tax authority prescribed under the said sub-section may direct that such fund shall pay, by way of penalty, a sum of five hundred thousand rupees.] ---------------- Notes:- 1. Inserted vide THE FINANCE ACT, 2015 w.e.f. 1st day of April, 2016