Income Tax Act, 2025
Section 5: Ins. by Act 28 of 2016, s. 104 (w.e.f. 12017).
5. Ins. by Act 28 of 2016, s. 104 (w.e.f. 12017).
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1[271H. Penalty for failure to furnish statements, etc.—(1) Without prejudice to the provisions of
the Act, the 2[Assessing Officer may direct that a person shall pay by way of] penalty, if, he—
(a) fails to deliver or cause to be delivered a statement within the time prescribed in sub-section
(3) of section 200 or the proviso to sub-section (3) of section 206C; or
(b) furnishes incorrect information in the statement which is required to be delivered or caused to
be delivered under sub-section (3) of section 200 or the proviso to sub-section (3) ofsection 206C.
(2) The penalty referred to in sub-section (1) shall be a sum which shall not be less than ten thousand
rupees but which may extend to one lakh rupees.
(3) Notwithstanding anything contained in the foregoing provisions of this section, no penalty shall
be levied for the failure referred to in clause (a) of sub-section (1), if the person proves that after paying
tax deducted or collected along with the fee and interest, if any, to the credit of the Central Government,
he had delivered or cause to be delivered the statement referred to in sub-section (3) of section 200 or the
proviso to sub-section (3) of section 206C before the expiry of a period of one year from the time
prescribed for delivering or causing to be delivered such statement.
(4) The provisions of this section shall apply to a statement referred to in sub-section (3) of section
200 or the proviso to sub-section (3) of section 206C which is to be delivered or caused to be delivered
for tax deducted at source or tax collected at source, as the case may be, on or after the 1st day of July,
2012.
3[271-I. Penalty for failure to furnish information or furnishing inaccurate information
under section 195.—If a person, who is required to furnish information under sub-section (6) of section
195, fails to furnish such information, or furnishes inaccurate information, the Assessing Officer may
direct that such person shall pay, by way of penalty, a sum of one lakh rupees.]
4[271J. Penalty for furnishing incorrect information in reports or certificates.—Without
prejudice to the provisions of this Act, where the Assessing Officer or the Commissioner (Appeals), in the
course of any proceedings under this Act, finds that an accountant or a merchant banker or a registered
valuer has furnished incorrect information in any report or certificate furnished under any provision of this
Act or the rules made thereunder, the Assessing Officer or the Commissioner (Appeals) may direct that such
accountant or merchant banker or registered valuer, as the case may be, shall pay, by way of penalty, a sum
of ten thousand rupees for each such report or certificate.
Explanation.––For the purposes of this section,—
(a) “accountant” means an accountant referred to in the Explanation below sub-section (2) of
section 288;
(b) “merchant banker” means Category I merchant banker registered with the Securities and
Exchange Board of India established under section 3 of the Securities and Exchange Board of India
Act, 1992.
(c) “registered valuer” means a person defined in clause (oaa) of section 2 of the Wealth-tax Act,
1957.]
[272. Failure to give notice of discontinuance.]—Omitted by the Direct Tax Laws (Amendment)
Act, 1987, (4 of 1988), s. 109 (w.e.f. 11989).
5[272A. Penalty for failure to answer questions, sign statements, furnish information, returns or
statements, allow inspections, etc.—(1) If any person,—
(a) being legally bound to state the truth of any matter touching the subject of his assessment,
refuses to answer any question put to him by an income-tax authority in the exercise of its powers
under this Act; or
Without prejudice to the provisions of
the Act, the 2[Assessing Officer may direct that a person shall pay by way of] penalty, if, he—
fails to deliver or cause to be delivered a statement within the time prescribed in sub-section
of section 200 or the proviso to sub-section
of section 206C; or
furnishes incorrect information in the statement which is required to be delivered or caused to
be delivered under sub-section
of section 200 or the proviso to sub-section
ofsection 206C.
The penalty referred to in sub-section
shall be a sum which shall not be less than ten thousand
rupees but which may extend to one lakh rupees.
Notwithstanding anything contained in the foregoing provisions of this section, no penalty shall
be levied for the failure referred to in clause
of sub-section
of section 200 or the
proviso to sub-section
of section 206C before the expiry of a period of one year from the time
prescribed for delivering or causing to be delivered such statement.
The provisions of this section shall apply to a statement referred to in sub-section
of section
200 or the proviso to sub-section
of section 206C which is to be delivered or caused to be delivered
for tax deducted at source or tax collected at source, as the case may be, on or after the 1st day of July,
2012.
3[271-I. Penalty for failure to furnish information or furnishing inaccurate information
under section 195.—If a person, who is required to furnish information under sub-section
of section
195, fails to furnish such information, or furnishes inaccurate information, the Assessing Officer may
direct that such person shall pay, by way of penalty, a sum of one lakh rupees.]
4[271J. Penalty for furnishing incorrect information in reports or certificates.—Without
prejudice to the provisions of this Act, where the Assessing Officer or the Commissioner
may direct that such
accountant or merchant banker or registered valuer, as the case may be, shall pay, by way of penalty, a sum
of ten thousand rupees for each such report or certificate.
Explanation.––For the purposes of this section,—
“accountant” means an accountant referred to in the Explanation below sub-section
of
section 288;
“merchant banker” means Category I merchant banker registered with the Securities and
Exchange Board of India established under section 3 of the Securities and Exchange Board of India
Act, 1992.
“registered valuer” means a person defined in clause
of section 2 of the Wealth-tax Act,
1957.]
[272. Failure to give notice of discontinuance.]—Omitted by the Direct Tax Laws
Act, 1987, (4 of 1988), s. 109 (w.e.f. 11989).
5[272A. Penalty for failure to answer questions, sign statements, furnish information, returns or
statements, allow inspections, etc.—
If any person,—
being legally bound to state the truth of any matter touching the subject of his assessment,
refuses to answer any question put to him by an income-tax authority in the exercise of its powers
under this Act; or