Income-Tax & CTP Q3

0. The penalty under section 271FA shall be levied for failure to file a statement of financial transaction or reportable account (previously called asAnnual Information Return). The penalty under section 271FA is Rs. for every day during which the failure continues.

Answer
Comment
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Option : C
Explanation : The penalty under section 271FA shall be levied for failure to file a statement of financial transaction or reportable account. The penalty under section 271FA is Rs. 100 for every day during which the failure continues.
Thus, option (c) is the correct option.

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