§ 467
Chapter XXI — Penalties
Penalty for failure to comply with the provisions of 14[sections 262 and 397]
Income-tax Act, 2025
✍️ A plain-language summary of this section is being prepared. Below is the official text.
📜 Official text
467. (1) If a person fails to comply with the provisions of section 262, the
Assessing Officer may impose a penalty of ` 10000 on him.
(2) If a person, required to quote or intimate his Permanent Account Number or
Aadhaar number in any document as referred to in section 262(9)( a), provides or
quotes or intimates a number which is false, knowing or believing it to be false, the
Assessing Officer may impose a penalty of ` 10000 on him for each such default.
(3) If a person fails to quote or authenticate his Permanent Account Number or
Aadhaar number in any document referred to in section 262(9)( a), the Assessing
Officer may impose a penalty of ` 10000 on him for each such default.
(4) If a person referred to in section 262(9)(b) responsible for ensuring the correct
quoting or authentication of Permanent Account Number or Aadhaar number, in
documents relating to transactions prescribed under section 262(9)(a) fails to do so,
the Assessing Officer may impose a penalty of ` 10000 on him for each such default.
Penalty for failure to comply with the provisions of section 397.
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