Question

Offences Punishable under the income tax act?​

Answer 1

Any person, committing the offence is liable to be prosecuted. In this connection it is not necessary that the person should be an assessee under the Income-tax Act.

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Penalties and Prosecutions Under Income tax Act, 1961.

SectionNature of defaultleviable271AFailure to keep, maintain, or retain books of account, documents, etc., as required under section 44AARs. 25,000

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