Section 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

Q: What does Section 271K of The Taxation Laws (Amendment) Act, 2021 (TTLAA) deal with?

Section 271K TTLAA pertains to "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". It is part of the The Taxation Laws (Amendment) Act, 2021, a legislation enacted by the Parliament of India. Section 271K of The Taxation Laws (Amendment) Act, 2021 (TTLAA) prescribes 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. As verified on 19 May 2026.

Q: Is Section 271K TTLAA still in force?

Yes, Section 271K of the The Taxation Laws (Amendment) Act, 2021 is currently in force across the Republic of India.

Q: What is धारा 271K TTLAA?

धारा 271K TTLAA is the Devanagari Hindi reference for Section 271K of the The Taxation Laws (Amendment) Act, 2021. Section 271K of The Taxation Laws (Amendment) Act, 2021 (TTLAA) prescribes 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. As verified on 19 May 2026.

Q: What is Dhara 271K TTLAA?

Dhara 271K TTLAA is the Roman Hindi reference for Section 271K of the The Taxation Laws (Amendment) Act, 2021. "Dhara" means "Section" in Hindi. Section 271K of The Taxation Laws (Amendment) Act, 2021 (TTLAA) prescribes 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. As verified on 19 May 2026.

Q: How to cite Section 271K of The Taxation Laws (Amendment) Act, 2021?

Cite as: "Section 271K, The Taxation Laws (Amendment) Act, 2021 (TTLAA)" in legal briefs. For academic writing, use the BlueBook format: The Taxation Laws (Amendment) Act, 2021, § 271K (India).

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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

in section 274, in sub-section (2A), in clause (a), for the words "Assessing Officer and the assessee in the course of proceedings ", the words "incometax authority and the assessee or any other person " shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 2020;

in section 279, after sub-section (3), the following sub-sections shall be inserted with effect from the 1st day of November, 2020, namely:-

(4)

The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of granting sanction under sub-section (1) or compounding under sub-section (2), so as to impart greater efficiency, transparency and accountability by-

(a) eliminating the interface between the income-tax authority and the assessee or any other person to the extent technologically feasible;

(b) optimising utilisation of the resources through economies of scale and functional specialisation;

(c) introducing a team-based sanction to proceed against, or for compounding of, an offence, with dynamic jurisdiction.

(5)

The Central Government may, for the purpose of giving effect to the scheme made under sub-section (4), by notification in the Official Gazette, direct that any of the provisions of this Act shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in the notification:

Provided that no direction shall be issued after the 31st day of March, 2022.

(6)

Every notification issued under sub-section (4) and sub-section (5) shall, as soon as may be after the notification is issued, be laid before each House of Parliament.";

(XXXX) after section 293C of the Income-tax Act, the following section shall be inserted with effect from the 1st day of November, 2020, namely:-