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

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

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

If any person who has entered into an international transaction or specified domestic transaction fails to furnish any such information or document as required by sub-section (3) of section 92D, the Assessing Officer or the Transfer Pricing Officer as referred to in section 92CA or the Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum equal to two per cent of the value of the international transaction or specified domestic transaction for each such failure.

Where this provision sits

ActThe Income-tax Act, 1961
Section271G
Marginal notePenalty for failure to furnish information or document under section 92D
JurisdictionCentral
StatusRepealed
Judgments citing it4

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