# The Finance Act, 2015, Section 73: Insertion of new section 271FAB

- Act: The Finance Act, 2015 (Act 20 of 2015)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2015/section/73/

## Text

Insertion of new section 271FAB. 73. After section 271FAA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2016, namely:— "271FAB. Penalty for failure to furnish statement or information or document by an eligible investment fund.—If any eligible investment fund which is required to furnish a statement or any information or document, as required under sub-section (5) of section 9A fails to furnish such statement or information or document within the time prescribed under that sub-section, the income-tax authority prescribed under the said sub-section may direct that such fund shall pay, by way of penalty, a sum of five hundred thousand rupees.".

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