§ 441
Chapter XXI — Penalties
Failure to keep, maintain or retain books of account, documents, etc
Income-tax Act, 2025
A penalty of Rs 25,000 can be levied on any person who does not keep and maintain the books of account and related documents required under Section 62, or who fails to retain those records for the period prescribed by the rules. The assessing officer, Joint Commissioner (Appeals) or Commissioner (Appeals) may impose this penalty for each tax year in which the breach occurs.
📜 Official text of the section +
441. A penalty of ` 25000 may be imposed on a person by the Assessing Officer
or the Joint Commissioner (Appeals) or the Commissioner (Appeals), if he
fails to—
( a) keep and maintain the books of account and other documents as per
section 62 or the rules made thereunder, in respect of any tax year; or
( b) retain such books of account and other documents for the period spec-
ified in the said rules.
Penalty for failure to keep and maintain information and document, etc., in
respect of certain transactions.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 439Penalty for under-reporting and misreporting of income§ 440[ (1) An assessee may make an application to the Assessing Officer to grant§ 442Penalty for Non‑Compliance with Transaction Reporting§ 443Penalty in respect of certain income§ 444Penalty for false entry, etc., in books of account§ 445Benefits to related persons