Section – 271G : Penalty for failure to furnish information or document under section 92D
March 7, 2018
Section – 271GB : Penalty for failure to furnish report or for furnishing inaccurate report under section 286
March 7, 2018

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

271GA. If 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.]

Leave a Reply

Your email address will not be published. Required fields are marked *

− 3 = 7

HostBooks has been featured in






Want to know more about HostBooks?

We’ll help you out!






− 2 = 5