Finance/Compliance Consultant
68397 Points
Posted on 01 July 2026
Failure to file the TAR by the deadline can result in a penalty under Section 271B (up to Rs. 1.5 lakh). However, if you can prove a "reasonable cause" for the delay—such as technical issues with DSCs that were beyond your control—you may be able to argue against the levy of this penalty during assessment proceedings. Filing the report as soon as possible is highly recommended.