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4.8 ★★★★★ Excellence since 2016Home > Income Tax Act 2025 > Chapter XXI > Section-450Last Updated: Apr 25th 2026
Section-450 provides for imposition of penalty if a person takes or accepts any loan or deposit or specified sum in contravention of the provisions of clause 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"
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.
Quickly find the corresponding section under the new Income Tax Act, 2025.
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.