# The Finance Act, 2016, Section 102: Amendment of section 271AA

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/102/

## Text

Amendment of section 271AA. 102. In the Income-tax Act, with effect from the 1st day of April, 2017, section 271AA shall be renumbered as sub-section (1) thereof and,— (a) | in sub-section (1) as so renumbered, after the words "without prejudice to the provisions of", the word, figures and letter "section 270A or" shall be inserted; (b) | after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely:— "(2) If any person fails to furnish the information and the document as required under sub-section (4) of section 92D, the prescribed income-tax authority referred to in the said sub-section may direct that such person shall pay, by way of penalty, a sum of five hundred thousand rupees.".

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