https://www.taxtmi.com/acts?id=52028 False statements in verification, or false accounts or statements under the Income Tax Act or the rules, constitute an offence where the person knows, believes, or does not believe them to be true. Punishment is graded by the tax that would have been evaded if the false material had been accepted as true: higher evasion attracts simple imprisonment up to two years, or fine, or both; the intermediate range attracts simple imprisonment up to six months, or fine, or both; and all other cases are punishable only with fine. en-us Thu, 14 Aug 2025 18:43:41 +0530 Mon, 06 Apr 2026 15:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=52028 False statements in verification, or false accounts or statements under the Income Tax Act or the rules, constitute an offence where the person knows, believes, or does not believe them to be true. Punishment is graded by the tax that would have been evaded if the false material had been accepted as true: higher evasion attracts simple imprisonment up to two years, or fine, or both; the intermediate range attracts simple imprisonment up to six months, or fine, or both; and all other cases are punishable only with fine. Act-Rules Income Tax Thu, 14 Aug 2025 18:43:41 +0530 https://www.taxtmi.com/acts?id=52028