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Section103
The Finance Act, 2012

Insertion of new section 271H

In force As on 11 Oct 2026

Ministry Finance

Section 103 of the Finance Act, 2012 deals with insertion of new section 271H. Insertion of new section 271H. 103. After section 271G of the Income-tax Act, the following section shall be inserted with effect from the 1st day of July, 2012, namely:— "271H.

Insertion of new section 271H.

103. After section 271G of the Income-tax Act, the following section shall be inserted with effect from the 1st day of July, 2012, namely:—

"271H. Penalty for failure to furnish statements, etc.—(1) Without prejudice to the provisions of the Act, a person shall be liable to pay penalty, if, he—

(a) fails to deliver or cause to be delivered a statement within the time prescribed in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C; or

(b) furnishes incorrect information in the statement which is required to be delivered or cause to be delivered under sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C.

(2) The penalty referred to in sub-section (1) shall be a sum which shall not be less than ten thousand rupees but which may extend to one lakh rupees.

(3) Notwithstanding anything contained in the foregoing provisions of this section, no penalty shall be levied for the failure referred to in clause (a) of sub-section (1), if the person proves that after paying tax deducted or collected along with the fee and interest, if any, to the credit of the Central Government, he had delivered or cause to be delivered the statement referred to in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C before the expiry of a period of one year from the time prescribed for delivering or causing to be delivered such statement.

(4) The provisions of this section shall apply to a statement referred to in sub-section (3) of section 200 or the proviso to sub-section (3) of section 206C which is to be delivered or caused to be delivered for tax deducted at source or tax collected at source, as the case may be, on or after the 1st day of July, 2012.".

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Section 103, The Finance Act, 2012.

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. 271G Penalty for failure to furnish information or document under section 92D

Questions about Section 103

What does Section 103 of the Finance Act deal with?

Section 103 of the Finance Act is headed "Insertion of new section 271H". Insertion of new section 271H. 103. After section 271G of the Income-tax Act, the following section shall be inserted with effect from the 1st day of July, 2012, namely:— "271H.

How do I find court cases under Section 103 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 2012 103, section 103 Finance Act 2012, section 103 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 103 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 271G (Penalty for failure to furnish information or document under section 92D), so none of them can safely be read on its own.

When was the Finance Act enacted?

Finance Act was enacted in 2012. 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.