Section - 271-I (of Income Tax Act, 1961), Penalty for failure to furnish information or furnishing inaccurate information under section 195 (of Income Tax Act, 1961)
Section - 271-I (of Income Tax Act, 1961), Penalty for failure to furnish information or furnishing inaccurate information under section 195 (of Income Tax Act, 1961)
Penalty for failure to furnish information or furnishing inaccurate information under section 195 (of Income Tax Act, 1961).
If a person, who is required to furnish information under sub-section (6) of section 195 (of Income Tax Act, 1961), 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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