Section 453: Penalty for failure to comply with provisions of section 188

The Income-tax Act, 2025Central Act · Act 30 of 2025

Penalty for failure to comply with provisions of section 188.

If a person repays any loan or deposit or specified advance referred to in section 188 otherwise than in accordance with the provisions of that section, the Assessing Officer may impose on him, a penalty equal to the loan or deposit or specified advance so repaid.

Where this provision sits

Act	The Income-tax Act, 2025
Section	453
Marginal note	Penalty for failure to comply with provisions of section 188
Jurisdiction	Central
Status	In force as published by the source

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