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— official CBDT correspondence
Section 271FA — Penalty for failure to furnish statement of financial transaction or reportable account: where it sits in the Income-tax Act, 2025
As per the official CBDT correspondence, Section 271FA (Penalty for failure to furnish statement of financial transaction or reportable account) of the Income-tax Act, 1961 corresponds to Section 454 (Penalty for failure to furnish statement of financial transaction or reportable account) of the Income-tax Act, 2025.
corresponding provisions · income-tax act, 2025
- Section 454 — Penalty for failure to furnish statement of financial transaction or reportable account
read both texts · §271FA (1961) vs §454 (2025)
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Source: the CBDT’s official 1961↔2025 correspondence table (incometaxindia.gov.in), captured 2026-07-21. This is a research aid — verify against the official CBDT utility ↗ before professional reliance.
frequently asked
Is Section 271FA of the Income-tax Act, 1961 omitted in the Income-tax Act, 2025?
No — its subject matter continues in the Income-tax Act, 2025 as Section 454.
What does Section 271FA of the Income-tax Act, 1961 deal with?
Section 271FA — "Penalty for failure to furnish statement of financial transaction or reportable account", under CHAPTER XXI - PENALTIES IMPOSABLE of the Income-tax Act, 1961.
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same chapter · chapter xxi - penalties imposable · income-tax act, 1961
- Section 271DA — Penalty for failure to comply with provisions of section 269ST
- Section 271DB — Penalty for failure to comply with provisions of section 269SU
- Section 271E — Penalty for failure to comply with the provisions of section 269T
- Section 271F — Penalty for failure to furnish return of income
- Section 271FAA — Penalty for furnishing inaccurate statement of financial transaction or reportable account
- Section 271FAB — Penalty for failure to furnish statement or information or document by an eligible investment fund
- Section 271FB — Penalty for failure to furnish return of fringe benefits
- Section 271G — Penalty for failure to furnish information or document under section 92D
frequently looked up · income-tax act, 1961
§2 · §9 · §10 · §11 · §12A · §14 · §24 · §28 · §37 · §43B · §44AB · §44AD · §44ADA · §45 · §48 · §50C · §54 · §54EC · §54F · §56 · §68 · §69 · §80C · §80CCD · §80D · §80G · §80GGC · §87A · §111A · §112 · §112A · §115BAA · §115BAC · §139 · §140A · §142 · §143 · §144 · §147 · §148 · §148A · §154 · §156 · §194C · §194-I · §194J · §194N · §194Q · §195 · §201 · §234A · §234B · §234C · §244A · §245 · §263 · §264 · §270A · §271AAD · §276B · §281