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Home > Income Tax Act 2025 > Section-463Last Updated: Feb 18th 2025

Section-463 : Penalty for furnishing incorrect information in reports or certificates

Learn to understand the section-463 as it is, it's help and useful links to follow.

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

New Income Tax Act 2025 Portal

1. Section-463 as per act

  1. Any accountant or merchant banker or registered valuer, shall be liable to pay a penalty of ten thousand rupees for any incorrect information in any report or certificate furnished under any provision of this Act or the rules made thereunder.
  2. The penalty under sub-section (1) shall be payable in respect of each incorrect report or certificate.
  3. The penalty under sub-section (1) shall be payable on directions of the Assessing Officer or the Joint Commissioner (Appeals) or the Commissioner (Appeals) where the inaccuracy mentioned in sub-section (1) is found by such authority in the course of any proceedings under this Act.
  4. In this section,—

    1. "merchant banker" means Category I merchant banker registered with the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992; and
    2. "registered valuer" means a person registered as a valuer under section 514.

2. Help and useful links for Section-463

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



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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.