Clause 441 imposes fixed INR 25,000 penalty for failure to maintain books under Section 62

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....Clause 441 of the Income Tax Bill, 2025 imposes a fixed penalty of INR 25,000 for failure to keep, maintain, or retain books of account and documents as required under Section 62 or relevant rules, mirroring the existing Section 271A of the Income-tax Act, 1961. Both provisions aim to ensure compliance with statutory record-keeping obligations critical for tax assessment and audit. The penalty is strict liability with no allowance for reasonable cause, and the authority to impose it lies with the Assessing Officer or appellate authorities. Unlike Section 271A, Clause 441 lacks an explicit "without prejudice" clause regarding other penalties, potentially raising issues of cumulative penalties. The fixed penalty promotes certainty but may lac.........