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Section61
The Finance Act, 1998

Substitution of new section for section 271F

In force As on 17 Oct 2026

Ministry Finance

Section 61 of the Finance Act, 1998 deals with substitution of new section for section 271F. Substitution of new section for section 271F 61.

Substitution of new section for section 271F

61. For section 271F of the Income-tax Act, the following section shall be substituted with effect from the 1st day of April, 1999, 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 under sub-section (1) of section 139, fails to furnish such return before the end of the relevant assessment year, he shall be liable to pay, by way of penalty, a sum of one thousand rupees :

Provided that 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.".

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Section 61, The Finance Act, 1998.

Cross-references

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

This section refers to

  1. Income-tax Act s. 271F Penalty for failure to furnish return of income

Questions about Section 61

What does Section 61 of the Finance Act deal with?

Section 61 of the Finance Act is headed "Substitution of new section for section 271F". Substitution of new section for section 271F 61.

How do I find court cases under Section 61 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 1998 61, section 61 Finance Act 1998, section 61 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 61 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 271F (Penalty for failure to furnish return of income), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 1998. 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.