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of <h1>Income Tax Bill 2025: Penalties for Non-Submission of Documents by Institutions per Sections 45(4)(a) and 354(1)(e)-(g).</h1> Clause 464 of the Income Tax Bill, 2025, stipulates penalties for failing to furnish required statements or documents. The Assessing Officer is authorized to impose a penalty ranging from a minimum of ten thousand rupees to a maximum of one lakh rupees. This applies to research associations, universities, colleges, or other institutions that do not submit the necessary documents as outlined in section 45(4)(a), and to institutions or funds that fail to deliver required statements or certificates within the timeframes specified under section 354(1)(e), (f), or (g).
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