Penalty for failure to furnish report under section 172
If any person fails to furnish a report from an accountant as required by section 172, the Assessing Officer may impose a penalty of one lakh rupees on such person.
Income Tax Act 2025: Section 447 for Tax Year 2025-26
Penalty for failure to furnish report under section 172 If any person fails to furnish a report from an accountant as required by section 172, the Assessing Officer may impose a penalty of one lakh rupees on such person.