Amendment of section 271FA

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..... day of April, 2015, (i) in the marginal heading, for the words annual information return , the words statement of financial transaction or reportable account shall be substituted; (ii) for the words .....

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..... vides for penalty for failure to furnish an annual information return. It is proposed to amend the said section so as to provide for penalty for failure to furnish statement of financial transaction o .....

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