Amendment of section 271G

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..... s to amend section 271G of the Income-tax Act relating to levy of penalty for failure to furnish information or document under section 92D of the Act. Under the existing provisions of section 271G, if any person who has entered into an international transaction or specified domestic transactions fails to furnish any such document or information as required by sub-section (3) of section 92D, then, .....

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