Section-453 : Penalty for failure to comply with provisions of section 188

Learn to understand the section-453 as it is, it's help and useful links to follow.

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

1. Section-453 as per act

If a person repays any loan or deposit or specified advance referred to in section 188 otherwise than in accordance with the provisions of that section, the Assessing Officer may impose on him, a penalty equal to the loan or deposit or specified advance so repaid.

2. Help and useful links for Section-453

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

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.