Punishment for Failure to furnish returns of income - Section 276CC

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....lure to file: • Income tax returns under Section 139(1) Income-tax Act • Returns demanded via notices under: • Section 142(1)(i) Income-tax Act • Section 148 Income-tax Act • Section 153A Income-tax Act • Fringe benefit returns • furnish in due time under Section 115WD(1) Income-tax Act • furnis....

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....or to the 1st day of April, 1975 • (ii) For later years - for any assessment year commencing prior to the 1st day of April, 1975 if: • (a) Return filed within permitted timelines • Filed before end of assessment year, OR • Filed as an updated return under Section 139(8A) Income-tax Act • (b) Small tax liability (for individuals/....

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....lakh • 6 months to 7 years imprisonment and fine • In other cases • 3 months to 2 years imprisonment and fine Exceptions (no prosecution): A person cannot be prosecuted if fails to furnished return in due time under section 139(1) or 115WD(1), in the following cases: • (i) Old years (pre-1975) - for any assessment year c....