Income-tax penalty for failing to furnish information under the Income-tax Act increased to Rs.25,000 effective 1 April 2026.

Amendment increases the maximum penalty under section 466 for failure to comply with the information-collection power in section 254 from Rs.1000 to Rs.25,000, with the power to impose the penalty remaining vested in the Joint Commissioner, Deputy Director, Assistant Director or Assessing Officer; effective from 1st April, 2026.

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