Income Tax Act, 2025
Section 5: Ins. by Act 44 of 1980, s. 33 (w.e.f. 11980).
5. Ins. by Act 44 of 1980, s. 33 (w.e.f. 11980).
6. Section 273 renumbered as sub-section (2) thereof by Act 19 of 1978, s. 31 (w.e.f. 11978).
792
1[(a) has furnished under sub-section (1) or sub-section (2) or sub-section (3) or sub-section (5)
of section 209A, or under sub-section (1) or sub-section (2) of section 212, an estimate of the advance
tax payable by him which he knew or had reason to believe to be untrue, or]
2[(aa) has furnished 3[under sub-section (4) of section 209A or] under sub-section (3A) of
section 212 an estimate of the advance tax payable by him which he knew or had reason to believe to
be untrue, or]
(b) has 4*** failed to furnish an estimate of the advance tax payable by him in accordance with
the provisions of 5[clause (b) of sub-section (1) of section 209A], or
(c) has 4*** failed to furnish an estimate of the advance tax payable by him in accordance with
the provisions of 6[sub-section (4) of section 209A or sub-section (3A) of section 212],
he may direct that such person shall, in addition to the amount of tax, if any, payable by him, pay by way
of penalty a sum—
(i) which, in the case referred to in clause (a), shall not be less than ten per cent. but shall not
exceed one and a half times the amount by which the tax actually paid during the financial year
immediately preceding the assessment year under the provisions of Chapter XVII-C falls short of—
(1) seventy-five per cent of the assessed tax as defined in sub-section (5) of section 215, or
7[(2) where a statement under clause (a) of sub-section (1) of section 209A was furnished by
the assessee or where a notice under section 210 was issued to the assessee, the amount payable
under such statement or, as the case may be, such notice,]
whichever is less;
2[(ia) which, in the case referred to in clause (aa), shall not be less than ten per cent. but shall not
exceed one and a half times the amount by which the tax actually paid during the financial year
immediately preceding the assessment year under the provisions of Chapter XVII-C falls short of
seventy-five per cent. of the assessed tax as defined in sub-section (5) of section 215;]
(ii) which, in the case referred to in clause (b), shall not be less than ten per cent. but shall not
exceed one and a half times of seventy-five per cent of the assessed tax as defined in
sub-section (5) of section 215; and
thereof by Act 19 of 1978, s. 31 (w.e.f. 11978).
792
1[
has furnished under sub-section
or sub-section
or sub-section
or sub-section
of section 209A, or under sub-section
or sub-section
of section 212, an estimate of the advance
tax payable by him which he knew or had reason to believe to be untrue, or]
2[
has furnished 3[under sub-section
of section 209A or] under sub-section
of
section 212 an estimate of the advance tax payable by him which he knew or had reason to believe to
be untrue, or]
has 4*** failed to furnish an estimate of the advance tax payable by him in accordance with
the provisions of 5[clause
of sub-section
of section 209A], or
has 4*** failed to furnish an estimate of the advance tax payable by him in accordance with
the provisions of 6[sub-section
of section 209A or sub-section
of section 212],
he may direct that such person shall, in addition to the amount of tax, if any, payable by him, pay by way
of penalty a sum—
which, in the case referred to in clause
seventy-five per cent of the assessed tax as defined in sub-section
of section 215, or
7[
where a statement under clause
of sub-section
of section 209A was furnished by
the assessee or where a notice under section 210 was issued to the assessee, the amount payable
under such statement or, as the case may be, such notice,]
whichever is less;
2[
which, in the case referred to in clause
of section 215;]
which, in the case referred to in clause
of section 215; and