Section 447 of Income Tax Act, 2025 : 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 one lakh rupees on such person.

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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.