Income Tax Law
Income-tax Act, 2025 · CHAPTER XXI — PENALTIES
Section 450Penalty for failure to comply with provisions of section 185
Income-tax Act, 2025 (30 of 2025)
If a person takes or accepts any loan or deposit or specified sum in contravention of the provisions of section 185, the Assessing Officer may impose on him, a penalty equal to the amount of the loan or deposit or specified sum so taken or accepted.
This section refers to
§ 185 Mode of payment in certain cases etc