Section 272BBB - Penalty for failure to comply with the provisions of section 206CA - Income-tax Act, 1961

1 [Penalty for failure to comply with the provisions of section 206CA. 272BBB. (1) If a person fails to comply 2 [before the 1st day of October, 2004] with the provisions of section 206CA, he shall, on an order passed by the Assessing Officer, pay, by way of penalty, a sum of ten thousand rupees. (2) No order under sub-section (1) shall be passed unless the person on whom the penalty is proposed to be imposed, is given an opportunity of being heard in the matter.] ------------------------- Notes :- 1. Inserted by the Finance Act, 2002, w.e.f. 1-6-2002. 2. Inserted by the Finance (No. 2) Act, 2004, w.e.f. 1-10-2004.