Section-456: Penalty for failure to furnish statement or information or document by an eligible investment fund

Section-456 : Penalty for failure to furnish statement or information or document by an eligible investment fund

Section-456 seeks to provide for imposition of penalty for failure to furnish statement or information or document by an eligible investment fund. Learn to understand the section-456 as it is, it's help and useful links to follow.

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

1. Section-456 as per act

If any eligible investment fund required to furnish a statement or any information or document under paragraph 4 of Schedule I, fails to do so within the time prescribed under the said paragraph, the income-tax authority prescribed under the said paragraph may direct that such fund shall pay, by way of penalty, a sum of ₹500000.