Substitution of new section for section 271FA.

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..... on 271FA of the Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 2014, namely: 271FA. Penalty for failure to furnish annual information return. If a pe .....

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..... where such person fails to furnish the return within the period specified in the notice issued under sub-section (5) of section 285BA, he shall pay, by way of penalty, a sum of five hundred rupees fo .....

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