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of <h1>False Statements in Income Tax Verifications Punishable Under Income Tax Act Section 276D with Imprisonment and Fines</h1> A person who makes or delivers a false statement or account in any verification under the Income Tax Act, knowing or believing it to be false or not believing it to be true, is subject to punishment. If the tax amount evaded exceeds twenty-five lakh rupees, the offender faces rigorous imprisonment for a term of six months to seven years and a fine. In other cases, the punishment is rigorous imprisonment for three months to two years and a fine. The provisions aim to deter false declarations in tax verifications and ensure accuracy in tax reporting.
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