Income-Tax & CTP Q12
0. The penalty under section 271AA will be a sum equal to
- A
2% of the value of each specified domestic transaction entered into by the taxpayer
- B
1% of the value of each specified domestic transaction entered into by the taxpayer
- C
3% of the value of each specified domestic transaction entered into by the taxpayer
- D
4% of the value of each specified domestic transaction entered into by the taxpayer
- Option : A
- Explanation : The penalty under section 271AA will be a sum equal to 2% of the value of each specified domestic transaction entered into by the taxpayer.
Thus, option (1) is the correct option.
