§ 456
Chapter XXI — Penalties
If any eligible investment fund required to furnish a statement or any
Income-tax Act, 2025
If an eligible investment fund does not provide the required statement, information, or document within the time limit specified in paragraph 4 of Schedule I, the tax authority can impose a penalty.
The penalty amount is a fixed sum of ₹500,000.
📜 Official text of the section +
456. If any eligible investment fund required to furnish a statement or any
information or document under paragraph 4 of Schedule I, fails to do so within
the time prescribed under the said paragraph, the income-tax authority prescribed
under the said paragraph may direct that such fund shall pay, by way of penalty, a
sum of ` 500000.
Penalty for failure to furnish information or document under section 171.
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§ 441Failure to keep, maintain or retain books of account, documents, etc§ 442Penalty for Non‑Compliance with Transaction Reporting§ 443Penalty in respect of certain income§ 444Penalty for false entry, etc., in books of account