Income-tax Act, 2025

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

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

465. (1) A person shall be liable to pay a penalty of Rs. 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 Rs. 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 section 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

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