Section 277 - False statement in verification, etc. - Income-tax Act, 1961

1 [False statement in verification, etc. 277. If a person makes a statement in any verification under this Act or under any rule made thereunder, or delivers an account or statement which is false, and which he either knows or believes to be false, or does not believe to be true, he shall be punishable, ( i ) in a case where the amount of tax, which would have been evaded if the statement or account had been accepted as true, exceeds 2 [ twenty-five hundred thousand rupees ] , with rigorous imprisonment for a term which shall not be less than six months but which may extend to seven years and with fine; ( ii ) in any other case, with rigorous imprisonment for a term which shall not be less than three months but which may extend to 3 [ two years ] and with fine.] ------------------------------------------------- Notes :- 1. Substituted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-10-1975. 2. Substituted vide Finance Act, 2012, w.e.f. 01-07-2012, before it was read as:- "one hundred thousand rupees" 3. Substituted vide Finance Act, 2012, w.e.f. 01-07-2012, before it was read as:- "three years"