§ 480
Chapter XXII — Offences And Prosecution
If a person wilfully fails to furnish in due time the return of income, setting
Income-tax Act, 2025
✍️ A plain-language summary of this section is being prepared. Below is the official text.
📜 Official text
480. If a person wilfully fails to furnish in due time the return of income, setting forth
his undisclosed income for the block period, which is required to be furnished
by notice given under section 294(1)(a), he shall be punishable—
( a) with simple imprisonment for a term up to two years, or with fine, or with
both, where the amount of tax exceeds fifty lakh rupees; or
( b) with simple imprisonment up to six months, or with fine, or with both,
where the amount of tax exceeds ten lakh rupees but does not exceed fifty
lakh rupees; or
( c) with fine, in any other case.
Failure to comply with a direction of special audit or valuation.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 473Whoever contravenes any order referred to in section 247(4) shall be§ 474If a person, who is required to afford the authorised officer with the necessary§ 475Removal, concealment, transfer or delivery of property to prevent tax recovery§ 476Failure to pay tax to credit of Central Government under Chapter XIX-B§ 477Failure to pay tax collected at source§ 478Wilful attempt to evade tax, etc