# The Finance Act, 2015, Section 75: Insertion of new section 271-I

- Act: The Finance Act, 2015 (Act 20 of 2015)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2015/section/75/

## Text

Insertion of new section 271-I. 75. After section 271H of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 2015, namely:— "271-I. Penalty for failure to furnish information or furnishing inaccurate information under section 195.—If a person, who is required to furnish information under sub-section (6) of section 195, fails to furnish such information; or furnishes inaccurate information, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of one lakh rupees.".

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