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Section 461: Penalty for failure to furnish statements, etc

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

Penalty for failure to furnish statements, etc.

(1) Where a person, who is required to deliver or causes to be delivered a statement prescribed in section 397(3)(b),—

(a) fails to do so within the time prescribed in the said section; or

(b) furnishes incorrect information in the said statement,

the Assessing Officer may impose on such person, a penalty of a sum which shall not be less than Rs. 10000 but which may extend to Rs. 100000.

(2) No penalty shall be levied under sub-section (1)(a) for delay in filing or non-filing of statement referred therein, if the person proves that—

(a) tax deducted or collected along with the fee and interest, if any, was paid to the credit of the Central Government; and

(b) the said statement was also delivered or cause to be delivered before the expiry of one month from the time prescribed in section 397(3)(b).

Where this provision sits

ActThe Income-tax Act, 2025
Section461
Marginal notePenalty for failure to furnish statements, etc
JurisdictionCentral
StatusIn force as published by the source

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