Amendment of section 271FAA.

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..... o furnish a statement under that section, (a) provides inaccurate information in the statement or fails to furnish correct information within the period specified under sub-section (6) of the said section; or (b) fails to comply with the due diligence requirement prescribed under sub-section (7) of the said section, then, the prescribed income-tax authority referred to in sub-section (1) thereof m .....

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..... sed to substitute the said sub-section so as to provide that if a person who is required to furnish a statement under section 285BA, provides inaccurate information in the statement or fails to furnish correct information within the period specified under sub-section (6) of the said section 285BA; or fails to comply with the due diligence requirement prescribed under sub-section (7) of the said se .....

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