Income Tax Act 2025: Section 481 for Tax Year 2025-26

Section 481, Income Tax Act 2025: Wilful failure to produce accounts under notice (Sec 268) may lead to 1-year imprisonment + fine.

Share:

Telegram Group Join Now
WhatsApp Group Join Now

Failure to produce accounts and documents

[As per the Income Tax Act, 2025 (this Act) w.e.f. 1st April, 2026.]

If a person wilfully fails to produce, or cause to be produced, the accounts and documents as are referred to in the notice served on him under section 268(1) on or before the date specified in such notice, or wilfully fails to comply with a direction issued to him under section 268(5) of, he shall be punishable with rigorous imprisonment for a term which may extend to one year and shall also be liable to fine.

in

Publish Your Article

Join AUBSP esteemed panel of Authors

(Become a Contributor to AUBSP as an Author)

Submit Content