1If a person who is required to furnish a return of his income, as required under sub-section (1) of section 139 or by the provisos to that sub-section, fails to furnish such return before the end of the relevant assessment year, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of five thousand rupees.
2 Provided that nothing contained in this section shall apply to and in
relation to the return of income required to be furnished for any assessment
year commencing on or after the 1st day of April, 2018.
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1. Subs. by Act 20 of 2002, s. 102, for section 271F (w.e.f. 1-6-2002).
2. Ins. by Act 7 of 2017, s. 86 (w.e.f. 1-4-2018).
Section 271C Penalty for failure to deduct tax at source
Section 271CA Penalty for failure to collect tax at source
Section 271D Penalty for failure to comply with the provisions of section 269SS
Section 271DA Penalty for failure to comply with provisions of section 269ST
Section 271E Penalty for failure to comply with the provisions of section 269T
Section 271F Penalty for failure to furnish return of income
Section 271FA Penalty for failure to furnish statement of financial transaction or reportable income
Section 271FB Penalty for failure to furnish return of fringe benefits