Income Tax Law
Income-tax Act, 2025 · CHAPTER XXI — PENALTIES
Section 447Penalty for failure to furnish report under section 172
Income-tax Act, 2025 (30 of 2025)
If any person fails to furnish a report from an accountant as required by section 172, the Assessing Officer may impose a penalty of ₹ 100000 on such person.
This section refers to
§ 172 Report from an accountant to be furnished by persons entering into international transaction or specified domestic transaction
Referenced by
§ 470 Penalty not to be imposed in certain cases