Income-tax Act, 2025 · CHAPTER XXI — PENALTIES

Section 441Failure to keep, maintain or retain books of account, documents, etc

Income-tax Act, 2025 (30 of 2025)

A penalty of ₹ 25000 may be imposed on a person by the Assessing Officer or the Joint Commissioner (Appeals) or the Commissioner (Appeals), if he fails to—

(a)keep and maintain the books of account and other documents as per section 62 or the rules made thereunder, in respect of any tax year; or

(b)retain such books of account and other documents for the period specified in the said rules.

keep and maintain the books of account and other documents as per section 62 or the rules made thereunder, in respect of any tax year; or

retain such books of account and other documents for the period specified in the said rules.

This section refers to

§ 62 Maintenance of books of account

Referenced by

§ 470 Penalty not to be imposed in certain cases