{"act":{"id":"finance-act-2001","short_title":"The Finance Act, 2001","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2001-2002.","act_number":null,"act_year":2001,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":102,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2001/"},"unit":"section","section":{"number":"91","heading":"Insertion of new section 271G","text":"Insertion of new section 271G. 91. After section 271F of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2002, namely:— \"271G. Penalty for failure to furnish information or document under section 92D.—If any person who has entered into an inter­national transaction fails to furnish any such information or document as required by sub-section (3) of section 92D, the Assessing Officer or the Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum equal to two per cent of the value of the international transaction for each such failure.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Insertion of new section 271G.</b></p><p><b>91.</b> After section 271F of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2002, namely:—</p><p>\"271G. <i>Penalty for failure to furnish information or document under section 92D.</i>—If any person who has entered into an inter­national transaction fails to furnish any such information or document as required by sub-section (3) of section 92D, the Assessing Officer or the Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum equal to two per cent of the value of the international transaction for each such failure.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":108,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2001/section/91/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}