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Home > Income Tax Act 2025 > Section-427Last Updated: Feb 25th 2025

Section-427 : Fee for default in furnishing statements

Secton-427 seeks to provide that the assessee shall be liable to pay fee of for delay in furnishing of statement regarding taxes deducted or collected at source. Learn to understand the section-427 as it is, it's help and useful links to follow.

Here onwards, "Act" refers to "Income Tax Act 2025"

New Income Tax Act 2025 Portal

1. Section-427 as per act

  1. Without prejudice to the provisions of this Act, where a person fails to deliver or cause to be delivered a statement within the time prescribed in section 393(3)(b), he shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.
  2. The amount of fee referred to in sub-section (1) shall,––

    1. not exceed the amount of tax deductible or collectible; and
    2. be paid before delivering or causing to be delivered the statement, as per sub-section (1).

2. Help and useful links for Section-427

  1. Income Tax Help Center
  2. Income Tax Act 2025 Home
  3. Self Service (DIY) Income Tax Filing made Easy
  4. Interest, Late Fee and Penalties under TDS — Explained
  5. TDS Late Fee & Interest Calculator
  6. Self Service TDS Return Preparation & Filing



How to get help from EZTax.in



Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.