Section 271AACentral Act
Section 271AA: [ Penalty for failure to keep and maintain information and document in respect of international transaction. [ Inserted by Act 14 of 2001, Section 88 (w.e.f. 1.4.2002).]
[ Penalty for failure to keep and maintain information and document in respect of international transaction. [ Inserted by Act 14 of 2001, Section 88 (w.e.f. 1.4.2002).]
- Without prejudice to the provisions of section 271, if any person fails to keep and maintain any such information and document as required by sub-section (1) or sub-section (2) of section 92-D, the Assessing Officer or Commissioner (Appeals) may direct that such person shall pay, by way of penalty, a sum equal to two per cent. of the value of each international transaction entered into by such person.]Previous
Sec 271A — [ Failure to keep, maintain or retain books of account, documents, etc. [Inserted by Act 41 of 1975, Section 62 (w.e.f. 1.4.1976).]
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Sec 271AAA — [ Penalty where search has been initiated. [ Inserted by Act 22 of 2007, Section 77 (w.e.f. 1.4.2007).]
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