As per section 271G of the Income Tax Act, 1961, when an assessee fails to furnish any information relating to a specified domestic transaction; the quantum of penalty as a percentage of value of the transaction would be
CS Executive · Tax Laws · PYQS · June 2022
As per section 271G of the Income Tax Act, 1961, when an assessee fails to furnish any information relating to a specified domestic transaction; the quantum of penalty as a percentage of value of the transaction would be :
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax Act, 1961
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