Section-450 : Penalty for failure to comply with the provisions of section 185

Learn to understand the section-450 as it is, it's help and useful links to follow.

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

1. Section-450 as per act

If a person takes or accepts any loan or deposit or specified sum in contravention of the provisions of section 185, the Assessing Officer may impose on him, a penalty equal to the amount of the loan or deposit or specified sum so taken or accepted.

2. Help and useful links for Section-450

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.