271GA Income Tax Act - Penalty for failure to furnish information or document under section 285A

Section 271ga of Income Tax Act 1961 - Penalty for failure to furnish information or document under section 285A

1If any Indian concern, which is required to furnish any information or document under section 285A, fails to do so, the income-tax authority, as may be prescribed under the said section, may direct that such Indian concern shall pay, by way of penalty,-

(i) a sum equal to two per cent of the value of the transaction in respect of which such failure has taken place, if such transaction had the effect of directly or indirectly transferring the right of management or control in relation to the Indian concern;

(ii) a sum of five hundred thousand rupees in any other case.
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1. Ins. by Act 20 of 2015, s. 74 (w.e.f. 1-4-2016).

Income Tax Act 1961

Section 271G Penalty for failure to furnish information or document under section 92D

Section 271GA Penalty for failure to furnish information or document under section 285A

Section 271GB Penalty for failure to furnish report or for furnishing inaccurate report under section 286

Section 271H Penalty for failure to furnish statements, etc

Section 271I Penalty for failure to furnish information or furnishing inaccurate information under section 195

Section 271J Penalty for furnishing incorrect information in reports or certificates

Section 272A Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc

Section 272AA Penalty for failure to comply with the provisions of section 133B

Section 272B Penalty for failure to comply with the provisions of section 139A

Section 272BB Penalty for failure to comply with the provisions of section 203A

Section 272BBB Penalty for failure to comply with the provisions of section 206CA

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