Clause 462 imposes penalties for failing to provide accurate info per section 397 (3)(d) under Income Tax Bill, 2025.
Under the Income Tax Bill, 2025, Clause 462 imposes a penalty for failing to provide required information or providing inaccurate information as mandated by section 397 (3)(d). If an individual does not comply with these requirements, the Assessing Officer is authorized to levy a penalty of one lakh rupees.