81[Penalty for failure to furnish annual information return.
271FA. If a person who is
required to furnish an annual information return, as required under sub-section
(1) of section 285BA, fails to furnish such
return within the time prescribed under that sub-section, the income-tax
authority prescribed under the said sub-section may direct that such person
shall pay, by way of penalty, a sum of one hundred rupees for every day during
which the failure continues.]