TMI BlogSubstitution of new section for section 271FX X X X Extracts X X X X X X X X Extracts X X X X ..... For section 271F of the Income-tax Act, the following section shall be substituted wit effect from the 1st day of April, 1999, namely:- "271F. Penalty for failure to furnish return of income.-If a p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ils to furnish such return on or before the due date, he shall be liable to pay, by way of penalty, a sum of five hundred rupees". X X X X Extracts X X X X X X X X Extracts X X X X
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