Fee for default in furnishing return of income, audited accounts and reports

428. Without prejudice to the provisions of this Act, where any person— ( a) required to furnish a return of income under section 263, fails to do so within the due date, as specified under sub-section (1) of the said section, he shall be liable to pay by way of fee,— ( i) a sum of ` 1000, if the total income of such person does not exceed ` 500000; and ( ii) a sum of ` 5000, in any other case; ( b) furnishes a return of income under section 263(5) beyond nine months from the end of relevant tax year, he shall be liable to pay by way of fee,–– ( i) a sum of ` 1000, if the total income of such person does not exceed ` 500000; and ( ii) a sum of ` 5000, in any other case; 3. Substituted by the Finance Act, 2026, w.e.f. 1-4-2026. Prior to their substitution, sections 427 and 428 read as under : “427. Fee for default in furnishing statements.— (1) Without prejudice to the provisions of this Act, where a person fails to deliver or cause to be delivered a statement within the time prescribed in section 397(3)( b), he shall be liable to pay, by way of fee, a sum of ` 200 for every day during which the failure continues. (2) The amount of fee referred to in sub-section (1) shall,— ( a) not exceed the amount of tax deductible or collectible; and ( b) be paid before delivering or causing to be delivered the statement, as per sub-section (1). 428. Fee for default in furnishing return of income.— Without prejudice to the provisions of this Act, where, a person required to furnish a return of income under section 263 fails to do so within such time as may be prescribed in section 263(1), he shall pay, by way of a fee,— ( a) a sum not exceeding ` 1000, if the total income of such person does not exceed ` 500000; ( b) a sum of ` 5000, in any other case.” ( c) fails to get his accounts audited for any tax year or years and furnish the report of such audit as required under section 63, he shall be liable to pay by way of fee,–– ( i) a sum of ` 75000 for a delay up to one month for which such failure continues; and ( ii) a sum of ` 150000 thereafter; ( d) fails to furnish a report from an accountant as required by section 172, he shall be liable to pay by way of fee,–– ( i) a sum of ` 50000 for a delay up to one month for which such failure continues; and ( ii) a sum of ` 100000 thereafter.] Fee for default relating to statement or certificate.