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TMI BlogSummary Chart for Offences and Prosecution under Income Tax ActX X X X Extracts X X X X X X X X Extracts X X X X ..... 2 years and fine. 2 years and fine. 276 Fraudulent removal, concealment, transfer or delivery of property to thwart tax recovery being taken in execution of a certificate under the provisions of Second Schedule relating to procedure for recovery of tax Any period up to 2 years and fine. 2 years and fine. 276A Failure to comply with the provisions of section 178(1) and (3) i.e., the liquidators failure to: (i) inform about his appointment within 30 days, or (ii) set aside assets of the company, or (iii) liquidator parts with any asset in contravention of the provisions [Amendment by FA, 2023 - Provided further that no proceeding shall be initiated under this section on or after the 1st day of April, 2023.] Any period up to 2 years which will ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any other case: 3 months and fine. Note:- No prosecution for failure to furnish the return in due time under section 139(1) if:- (i) the return is filed before the expiry of the assessment year; or (ii) the tax payable by such person not being a company on regular assessment, as reduced by the advance tax or self-assessment tax, if any paid before the expiry of the AY, and any TDS or TCS and advance tax does not exceed ₹ 10,000. [Amendment w.e.f AY 2020-21] [Amendment w.e.f. 01.04.2018, sub-clause (b) not being a company added, the company shall be punishable of rigorous imprisonment, as above, if it does not file return of income.] If tax sought to be evaded exceeds 25,00,000: 7 years and fine. In any other case: 2 years and fine. No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich he either knows to be false or does not believe to be true or to commit an offence u/s 276C(1) If the amount of tax, penalty or interest which would have been evaded, if the declaration, account or statement had been accepted as true exceeds ₹ 25 lakhs, 6 months; Otherwise, 3 months fine If it exceeds 25 lakhs, 7 years; Otherwise 2 years and fine 278A Punishment for second and subsequent offences u/s 276B , 272C(1) , 276CC , 277 or 278 or section 276BB [ inserted by the FA, 2022 ] 6 months for every offence and fine 7 years for every offence and fine 280 ( 1) Disclosure of particulars by public servants in contravention of section 138(2) (prosecution to be instituted with the approval of Central government) Up to 6 months and fine ..... X X X X Extracts X X X X X X X X Extracts X X X X
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