Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
Section - 4 - Insertion of new section "271K"
Insertion of new section "271K".4. (XXXVI) section 27K shall be omitted and shall be deemed to have been omitted with effect from the 1st day of June, 2020;4. (XXXVII) after section 271J, the following section shall be inserted with effect from the 1st day of April, 2021, namely:-
| - | "271K. Penalty for failure to furnish statements, etc - Without prejudice to the provisions of this Act, the Assessing Officer may direct that a sum not less than ten thousand rupees but which may extend to one lakh rupees shall be paid by way of penalty by- |
| (i) | - | the research association, university, college or other institution referred to in clause (ii) or clause (iii) or the company referred to in clause (iia) of sub-section (1) of section 35, if it fails to deliver or cause to be delivered a statement within the time prescribed under clause (i), or furnish a certificate prescribed under clause (ii) of sub-section (1A) of that section; or |
| (ii) | .... To read the full section download the app from Google Play store
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