Consequences of furnishing false statement [ Section 176 & 177 of Finance Act, 2016 ] - International Taxation - Income Tax

Consequences of furnishing false statement [ Section 176 177 of Finance Act, 2016 ] Punishment for false statement - If a person makes a false statement in any verification under this Chapter or 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 with imprisonment for a term which may extend to three years and with fine. [ Section 176(1) ] Non-cognizable Offence - Notwithstanding anything contained in the Code of Criminal Procedure, 1973, an offence punishable under section 176(1) shall be deemed to be non-cognizable within the meaning of that Code. [ Section 176(1) ] Institution of prosecution - No prosecution shall be instituted against any person for any offence under section 176 except with the previous sanction of the Chief Commissioner of Income-tax. [ Section 177 ]