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PENALTY FOR FURNISHING INACCURATE STATEMENT OF FINANCIAL TRANSACTION OR REPORTABLE ACCOUNT - SECTION 271FAA

Income Tax - Tax Liability in special Circumstances / Specific Cases - 25 - If a person referred to in clause (k) of sub-section (1) of section 285BA, who is required to furnish a statement under that section, provides inaccurate information in the s .....

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me of furnishing the statement of financial transaction or reportable account, but does not inform the prescribed income-tax authority or such other authority or agency or (c) The person discovers the inaccuracy after the statement of financial trans .....

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