Section-447 : Penalty for failure to furnish report under section 172

Learn to understand the section-447 as it is, it's help and useful links to follow.

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

1. Section-447 as per act

If any person fails to furnish a report from an accountant as required by section 172, the Assessing Officer may impose a penalty of one lakh rupees on such person.

2. Help and useful links for Section-447

Income Tax Help Center
Income Tax Act 2025 Home
Income Tax Penalties: What and When?
Self Service (DIY) Income Tax Filing made Easy

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.