# The Finance Act, 1997, Section 54: Insertion of new section 271F

- Act: The Finance Act, 1997
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1997/section/54/

## Text

Insertion of new section 271F. 54. After section 271E of the Income-tax Act, the following section shall be inserted, namely:— "271F. Penalty for failure to furnish return of income.—If a person who is required to furnish a return of his income as required by the proviso to sub-section (1) of section 139 fails to furnish such return on or before the due date, he shall be liable to pay by way of penalty, a sum of five hundred rupees.". © Copyright. Taxmann Publications Pvt. Ltd.

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