Section-468: Penalty for failure to comply with the provisions of section 397(1)

Section-468 : Penalty for failure to comply with the provisions of section 397(1)

Section-468 seeks to provide for imposition of penalty for failure to comply with the provisions of section 397(1). Learn to understand the section-468 as it is, it's help and useful links to follow.

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

1. Section-468 as per act

If a person fails to comply with the provisions of section 397, the Assessing Officer may impose a penalty of ten thousand rupees on him.
If a person, required to quote his Tax Deduction and Collection Account Number in documents (such as challans, certificates, or statements) referred to in section 397(1)(b), quotes a number which is false, knowing or believing it to be false, the Assessing Officer may impose a penalty of ten thousand rupees on him.