Section 450 of Income Tax Act, 2025 : Penalty for failure to comply with provisions of section 185

If a person takes or accepts any loan or deposit or specified sum in contravention of the provisions of section 185, the Assessing Officer may impose on him, a penalty equal to the amount of the loan or deposit or specified sum so taken or accepted.

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Advocate Shruti Goyal Advocate
Advocate Shruti Goyal is a legal expert specializing in corporate law and compliance. She writes to simplify legal topics for businesses and individuals alike.