Insertion of new section 271G
Section 91 of the Finance Act, 2001 deals with insertion of new section 271G. 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.
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.".
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Section 91, The Finance Act, 2001.
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Questions about Section 91
What does Section 91 of the Finance Act deal with?
Section 91 of the Finance Act is headed "Insertion of new section 271G". 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.
How do I find court cases under Section 91 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 2001 91, section 91 Finance Act 2001, section 91 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 91 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 2001. 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
- First Schedule. First Schedule5812 words
- 49. Substitution of new sections for section 922093 words
- 2. Income-tax1972 words
- 5. Amendment of section 101262 words
- 44. Amendment of section 80-IA857 words
- 52. Substitution of new section for section 115AC851 words
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