Income Tax Act, 2025
Section 7: Subs. by s. 31, ibid., for sub-clause (2) (w.e.f. 11978).
7. Subs. by s. 31, ibid., for sub-clause (2) (w.e.f. 11978).
793
1[(iii) which, in the case referred to in clause (c), shall not be less than ten per cent. but shall not
exceed one and a half times the amount by which—
(a) where the assessee has sent a statement under clause (a), or an estimate under clause (b)
of sub-section (1) of section 209A, or an estimate in lieu of a statement under sub-section (2) of
that section, the tax payable in accordance with such statement or estimate; or
(b) where the assessee was required to pay advance tax in accordance with the notice issued
to him under section 210, the tax payable under such notice,
falls short of seventy-five per cent. of the assessed tax as defined in sub-section (5) of
section 215:]]
2[Provided that in the case of an assessee, being a company, the provisions of this sub-section shall
have effect as if for the words “seventy-five per cent.”, wherever they occur, the words “eighty-three and
one-third per cent.” had been substituted.]
3[Explanation 4[1].—For the purposes of clause (ia), the amount paid by the assessee on or before the
date extended by the 5[6[Principal Chief Commissioner or Chief Commissioner] or 7[Principal
Commissioner or Commissioner]] under the 8[ 9[first proviso] to sub-section (4) of section 209A or, as the
case may be, 9[first proviso] to sub-section (3A) of section 212] shall, where the date so extended falls
beyond the financial year immediately preceding the assessment year, also be regarded as tax actually
paid during that financial year.]
10[Explanation 2.—When the person liable to penalty is a registered firm or an unregistered firm
which has been assessed under clause (b) of section 183, then, notwithstanding anything contained in the
other provisions of this Act, the penalty imposable under this section shall be the same amount as would
be imposable on that firm if that firm were an unregistered firm.]
11[(3) The provisions of this section shall apply to and in relation to any assessment for the assessment
year commencing on the 1st day of April, 1988, or any earlier assessment year, and references in this
section to the other provisions of this Act shall be construed as references to those provisions as for the
time being in force and applicable to the relevant assessment year.]
(w.e.f. 11978).
793
1[
which, in the case referred to in clause
where the assessee has sent a statement under clause
of sub-section
of section 209A, or an estimate in lieu of a statement under sub-section
of
that section, the tax payable in accordance with such statement or estimate; or
where the assessee was required to pay advance tax in accordance with the notice issued
to him under section 210, the tax payable under such notice,
falls short of seventy-five per cent. of the assessed tax as defined in sub-section
of
section 215:]]
2[Provided that in the case of an assessee, being a company, the provisions of this sub-section shall
have effect as if for the words “seventy-five per cent.”, wherever they occur, the words “eighty-three and
one-third per cent.” had been substituted.]
3[Explanation 4[1].—For the purposes of clause
of section 209A or, as the
case may be, 9[first proviso] to sub-section
of section 212] shall, where the date so extended falls
beyond the financial year immediately preceding the assessment year, also be regarded as tax actually
paid during that financial year.]
10[Explanation 2.—When the person liable to penalty is a registered firm or an unregistered firm
which has been assessed under clause
of section 183, then, notwithstanding anything contained in the
other provisions of this Act, the penalty imposable under this section shall be the same amount as would
be imposable on that firm if that firm were an unregistered firm.]
11[
The provisions of this section shall apply to and in relation to any assessment for the assessment
year commencing on the 1st day of April, 1988, or any earlier assessment year, and references in this
section to the other provisions of this Act shall be construed as references to those provisions as for the
time being in force and applicable to the relevant assessment year.]