Bare ActsIncome-tax Act, 2025

Section 450

Penalty for failure to comply with provisions of section 185.--

Amendment status not verified — confirm the current text below against the official source.

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.

Section 450 – Income-tax Act, 2025 | DailyLaw.ai