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of <h1>Clause 482 of Income Tax Bill 2025: Penalties for False Statements and Tax Evasion Detailed</h1> Clause 482 of the Income Tax Bill, 2025, addresses the offense of making false statements in verifications or delivering false accounts under the Act or its rules. If a person knowingly or recklessly provides false information, they face penalties. If the evaded tax exceeds twenty-five lakh rupees, the punishment includes rigorous imprisonment from six months to seven years and a fine. For cases involving lesser amounts, the imprisonment ranges from three months to two years, along with a fine.
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