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Home List Manuals Income TaxIncome Tax - Frequently Asked Questions (FAQs)FAQs on Penalty provision under IT Act This

Income Tax - Frequently Asked Questions (FAQs)

FAQs on Penalty provision under IT Act

When penalty under Section 271BA shall be imposed?

  • Contents

Ans. Penalty under Section 271BA shall be imposed if a person, who has entered into an international transaction or specified domestic transaction, fails to furnish a report from a Chartered Accountant in the Form 3CEB on or before the due date.​

 

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