Section 271BA - Penalty for failure to furnish report under section 92E - Income-tax Act, 1961

1 [Penalty for failure to furnish report under section 92E. 271BA. If any person fails to furnish a report from an accountant as required by section 92E, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of one hundred thousand rupees.] ------------------------- Notes :- 1. Inserted by the Finance Act, 2001, w.e.f. 1-4-2002.