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Section30
The Finance Act, 1984

Insertion of new section 271B

In force As on 17 Oct 2026

Ministry Finance Cited by 1 provision

Section 30 of the Finance Act, 1984 deals with insertion of new section 271B. Insertion of new section 271B. 30. In the Income-tax Act, after section 271A, the following section shall be inserted with effect from the 1st day of April, 1985, namely: — Failure to get accounts audited.

Insertion of new section 271B.

30. In the Income-tax Act, after section 271A, the following section shall be inserted with effect from the 1st day of April, 1985, namely: —

Failure to get accounts audited.

"271B. If any person fails, without reasonable cause, to get his accounts audited in respect of any previous year or years relevant to an assessment year or obtain a report of such audit as required under section 44AB, the Income-tax Officer may direct that such person shall pay, by way of penalty, a sum equal to one-half per cent. of the total sales, turnover or gross receipts, as the case may be, in business, or of the gross receipts in profession, in such previous year or years or a sum of one hundred thousand rupees, whichever is less".

[Finance Act, 1984]

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Section 30, The Finance Act, 1984.

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

Referred to by 1

  1. s. First Schedule First Schedule

Questions about Section 30

What does Section 30 of the Finance Act deal with?

Section 30 of the Finance Act is headed "Insertion of new section 271B". Insertion of new section 271B. 30. In the Income-tax Act, after section 271A, the following section shall be inserted with effect from the 1st day of April, 1985, namely: — Failure to get accounts audited.

How do I find court cases under Section 30 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1984 30, section 30 Finance Act 1984, section 30 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 30 of the Finance Act, and has it changed?

1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1984. India Code records no commencement date for it. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.