# The Finance Act, 2002, Section 105: Insertion of new section 272BBB

- Act: The Finance Act, 2002
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2002/section/105/

## Text

Insertion of new section 272BBB. 105. After section 272BB of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 2002, namely:— "272BBB. Penalty for failure to comply with the provisions of section 206CA.—(1) If a person fails to comply with the provisions of section 206CA, he shall, on an order passed by the Assessing Officer, pay, by way of penalty, a sum of ten thousand rupees. (2) No order under sub-section (1) shall be passed unless the person on whom the penalty is proposed to be imposed is given an opportunity of being heard in the matter.". © Copyright. Taxmann Publications Pvt. Ltd.

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