§ 468
Chapter XXI — Penalties
Penalty for failure to comply with the provisions of section 397
Income-tax Act, 2025
If a person does not follow the requirements of section 397, the Assessing Officer can levy a penalty of ₹10,000.
Similarly, if a person knowingly provides a false Tax Deduction and Collection Account Number in any challan, certificate, statement or other document covered by section 397(1)(b), a ₹10,000 penalty may be imposed.
The Assessing Officer has the authority to reduce or waive the penalty in specified circumstances.
📜 Official text of the section +
468. (1) If a person fails to comply with the provisions of section 397, the Assessing
Officer may impose a penalty of ` 10000 on him.
(2) If a person, required to quote his Tax Deduction and Collection Account Num-
ber in challans, certificates, statements or other documents referred to in section
397(1)(b), quotes a number which is false, knowing or believing it to be false or not
true, the Assessing Officer may impose a penalty of ` 10000 on him.
Power to reduce or waive penalty, etc., in certain cases.
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