Section – 271 : Failure to furnish returns, comply with notices, concealment of income, etc.
March 7, 2018
Section – 271AA : Penalty for failure to keep and maintain information and document, etc., in respect of certain transactions
March 7, 2018

Section – 271A : Failure to keep, maintain or retain books of account, documents, etc.

271A. Without prejudice to the provisions of 71-74[section 270A or] section 271, if any person fails to keep and maintain any such books of account and other documents as required by section 44AA or the rules made thereunder, in respect of any previous year or to retain such books of account and other documents for the period specified in the said rules, the Assessing Officer or the Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum of twenty-five thousand rupees.

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