Section 480: Failure to furnish return of income in search cases
The Income-tax Act, 2025Central Act · Act 30 of 2025
[Failure to furnish return of income setting forth undisclosed income.
If a person wilfully fails to furnish in due time the return of income, setting forth his undisclosed income for the block period, which is required to be furnished by notice given under section 294(1)(a), he shall be punishable—
(a) with simple imprisonment for a term up to two years, or with fine, or with both, where the amount of tax exceeds fifty lakh rupees; or
(b) with simple imprisonment up to six months, or with fine, or with both, where the amount of tax exceeds ten lakh rupees but does not exceed fifty lakh rupees; or
Failure to furnish return of income in search cases
Jurisdiction
Central
Status
In force as published by the source
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
substituted, Act No. 4 of 2026. Section 480 sub. by Act No. 4 of 2026, w.e.f. 1-4-2026. Prior to its substitution, sections 480 read as under :"480. Failure to furnish return of income in search cases.—If a person wilfully fails to furnish in due time the return of total income which is required to be furnished by notice given under section 294(1)(a), he shall be punishable with imprisonment for a term which shall not be less t…
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