<s>[INST] What is the amount of penalty levied under section 271AA? [/INST] ​​The penalty shall be a sum equal to 2% of the value of each international transaction or specified domestic transaction entered into by the taxpayer.

However, if a constituent entity of an international group fails to furnish information and documents as required under Section 92D(4), the Director-General of Income-tax (Risk Assessment) may impose a penalty of Rs 500,000.​ </s>