Section 447 of Income Tax Act - Penalty for failure to furnish report under section 172

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Last Updated: 01-04-2026

447. ^{^[i]}[***]

[i] Section omitted by Section 102 of FA, 2026 wef 01-04-2026. Earlier it read as

447. Penalty for failure to furnish report under section 172.

If any person fails to furnish a report from an accountant as required by section 172, the Assessing Officer may impose a penalty of ₹100000 on such person.

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Section 447 of Income Tax Act - Penalty for failure to furnish report under section 172