Telecom Regulatory Authority of India Act : Insertion of new section 27 1F. Indian Bare Acts :

Telecom Regulatory Authority of India Act,1997

Act No : 24

Section : Insertion of new section 27 1F.

54. Insertion of new section 27 1F. After section 271E of the Income-tax Act, the following section shall be inserted, namely:- "271F.Penalty for failure to furnish return of income. If a person who is required to furnish a return of his income as required by the proviso to sub-section (1) of section 139 fails to furnish such return on or before the due date, he shall be liable to pay by way of penalty, sum of five hundred rupees.".