Budget 2024-25: FM Proposes to Amend S.271H of Income Tax Act w.r.t Penalty on Late Returns Filing [Read Bill]

By Varsha Chandran - On July 23, 2024 7:07 pm - 2 mins read
Budget 2024 insights - Budget 2024 coverage - Union Budget 2024 - Budget 2024 tax changes - S.271H of Income Tax Act - Penalty On Late Returns Filing - Nirmala Sitharaman - taxscan

The Union Finance Minister Nirmala Sitharaman during the Budget Presentation at 11 AM on 23rd July 2024 proposed to amend S.271H of Income Tax Act relating to penalty for failure to furnish statements. Clause 81 of the bill seeks to amend Sec.271H of the Act, sub-section (1) of the section provides for penalty in case…

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