Income Tax Law
Act 2025/ CHAPTER XXI/ § 443
Income-tax Act, 2025 · CHAPTER XXI — PENALTIES

Section 443Penalty in respect of certain income

Income-tax Act, 2025 (30 of 2025)
(1)
The Assessing Officer or the Joint Commissioner (Appeals) or Commissioner (Appeals) may impose a penalty of 10% of the tax payable under section 195(1)(i), on an assessee if the income determined in his case for any tax year includes any income referred to in section 102, 103, 104, 105 or 106.
(2)
The penalty under sub-section (1) shall be payable in addition to the tax payable under section 195.
(3)
No penalty shall be levied on income referred to in section 102, 103, 104, 105 or 106 to the extent such income has been included by the assessee in the return of income furnished under section 263 and the tax as per section 195(1)(i) has been paid on or before the end of the relevant tax year.
(4)
No penalty under section 439 shall be imposed upon the assessee in respect of income referred to in sub-section (1).
This section refers to
§ 102 Unexplained credits
§ 102 Unexplained credits
§ 195 Tax on income referred to in sections 102 to 106
§ 195 Tax on income referred to in sections 102 to 106
§ 195 Tax on income referred to in sections 102 to 106
§ 263 Return of income.
§ 439 Penalty for under-reporting and misreporting of income