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THE INCOME TAX ACT, 2025
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Section 338 - Income not to be inc... Section 339 - Corpus donation... Section 340 - Deemed corpus donati... Section 341 - Application of incom... Section 342 - Accumulated income... Section 343 - Deemed accumulated i... Section 344 - Business undertaking... Section 345 - Restriction on comme... Section 346 - Restriction on comme... Section 347 - Books of account... Section 348 - Audit... Section 349 - Return of income... Section 350 - Permitted modes of i... Section 351 - Specified violation... Section 352 - Tax on accreted inco... Section 353 - Other violations... Section 354 - Application for appr... Section 355 - Interpretation... Section 356 - Appealable orders be... Section 357 - Appealable orders be... Section 358 - Form of appeal and l... Section 359 - Procedure in appeal... Section 360 - Powers of Joint Comm... Section 361 - Appellate Tribunal... Section 362 - Appeals to Appellate... Section 363 - Orders of Appellate ... Section 364 - Procedure of Appella... Section 365 - Appeal to High Court... Section 366 - Case before High Cou... Section 367 - Appeal to Supreme Co... Section 368 - Hearing before Supre... Section 369 - Tax to be paid irres... Section 370 - Execution for costs ... Section 371 - Amendment of assessm... Section 372 - Exclusion of time ta... Section 373 - Filing of appeal by ... ... Section 375 - Procedure when asses... Section 376 - Procedure where an i... Section 377 - Revision of orders p... Section 378 - Revision of other or... Section 379 - Dispute Resolution C... Section 380 - Interpretation... Section 381 - Board for Advance Ru... Section 382 - Vacancies, etc, not ... Section 383 - Application for adva... Section 384 - Procedure on receipt... Section 385 - Appellate authority ... Section 386 - Advance ruling to be... Section 387 - Powers of the Board ... Section 388 - Procedure of Board f... Section 389 - Appeal... Section 390 - Deduction or collect... Section 391 - Direct payment... Section 392 - Salary and accumulat... Section 393 - Tax to be deducted a... Section 394 - Collection of tax at... Section 395 - Certificates... Section 396 - Tax deducted is inco... Section 397 - Compliance and repor... Section 398 - Consequences of fail... Section 399 - Processing... Section 400 - Power of Central Gov... Section 401 - Bar against direct d... Section 402 - Interpretation... Section 403 - Liability for paymen... Section 404 - Conditions of liabil... Section 405 - Computation of advan... Section 406 - Payment of advance t... Section 407 - Payment of advance t... Section 408 - Instalments of advan... Section 409 - When assessee is dee... Section 410 - Credit for advance t... Section 411 - When tax payable and... Section 412 - Penalty payable when... Section 413 - Certificate by Tax R... Section 414 - Tax Recovery Officer... Section 415 - Stay of proceedings ... Section 416 - Other modes of recov... Section 417 - Recovery through Sta... 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Section 465 of Income Tax Act - Pe...

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Section 465 of Income Tax Act - Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc

465. Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections, etc.

(1) A person shall be liable to pay a penalty of ₹10000 for each default or failure as mentioned below, if that person,—

(a) being legally bound to state the truth of any matter touching the subject of his assessment, refuses to answer any question put to him by an income-tax authority in the exercise of its powers under this Act; or

(b) refuses to sign any statement made by him in the course of any proceedings under this Act, which an income-tax authority may legally require him to sign; or

(c) to whom a summons is issued under section 246(1), either to attend to give evidence or to produce books of account or other documents at a certain place and time omits to attend or produce books of account or documents at the place or time; or

(d) fails to comply with a notice under section 268(1) or 270(8) or fails to comply with a direction issued under section 268(5).

(2) A person shall be liable to pay a penalty of ₹500 for every day during which the following failures continue, if that person fails to—

(a) comply with a notice under section 175(7); or

(b) give the notice of discontinuance of his business or profession as required by section 320(3); or

(c) furnish in due time any of the returns, statements or particulars mentioned in section 252 or 397(3) or 507; or

(d) allow inspection of any register referred to in section 255 or of any entry in such register or to allow copies of such register or of any entry therein to be taken; or

(e) furnish the return of income as required under section 263(1)(a)(iii) or (iv) or to furnish it within the time allowed and, in the manner, required under sections 263(1) and (2); or

(f) deliver or cause to be delivered in due time a copy of the declaration required under section 393(7); or

(g) furnish a certificate under section 395(4); or

(h) deduct and pay tax under section 416(3); or

(i) furnish a statement under section 392(5)(a); or

(j) deliver or cause to be delivered in due time a copy of the declaration required under section 394(3); or

(k) deliver or cause to be delivered the statement within the time specified in section 397(3)(b); or

(l) deliver or cause to be delivered a statement within the time as may be prescribed under section 397(3)(e); or

(m) deliver or cause to be delivered a statement within the time as may be prescribed under section  397(3)(g)(i).

(3) The amount of penalty shall not exceed the amount of tax deductible or collectible for failures in relation to the following:––

(a) a declaration required under section 393(7);

(b) a certificate as required under section 395(4); and

(c) statements under section 397(3)(b) or (e).

(4) Any penalty imposable under sub-section (1) or (2) shall be imposed—

(a) if the contravention, failure or default for which such penalty is imposable occurs in the course of any proceeding before an income-tax authority not below the rank of Joint Director or a Joint Commissioner, by such income-tax authority;

(b) in a case falling under sub-section (1)(d), by the income-tax authority who had issued the notice or  direction referred to therein;

(c) in a case falling under sub-section (2)(f), by the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner; and

(d) in any other case, by the Joint Director or the Joint Commissioner.

(5) In this section, “income-tax authority” includes a Principal Director General or Director General, Principal Director or Director, Joint Director and an Assistant Director or Deputy Director while exercising the powers vested in a court under the Code of Civil Procedure, 1908, when trying a suit in respect of the matters specified in section 246(1).

GST Gyaan | https://gstgyaan.in | CA Rajesh Ritolia - 9350171263

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