§ 446
Chapter XXI — Penalties
Section 446
Income-tax Act, 2025
✍️ A plain-language summary of this section is being prepared. Below is the official text.
📜 Official text
446. (1) If any person who is required to furnish a statement in respect of a trans-
action of a crypto-asset under section 509(1), fails to furnish such statement
within the time prescribed under the said section, the prescribed income-tax authority
under that section may impose on him, a penalty of ` 200 for every day for which such
failure continues.
(2) The prescribed income-tax authority may impose a penalty of ` 50000 on a person
referred in sub-section (1), if such person—
( a) provides inaccurate information in the statement and fails to remove such
inaccuracy as per section 509(4); or
( b) fails to comply with due diligence the requirement under section 509(5).]
Penalty for failure to furnish report under section 172.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 439Penalty for under-reporting and misreporting of income§ 440[ (1) An assessee may make an application to the Assessing Officer to grant§ 441Failure to keep, maintain or retain books of account, documents, etc§ 442Section 442§ 443Penalty in respect of certain income§ 444Penalty for false entry, etc., in books of account