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<h1>Income Tax Bill 2025 Clause 439 maintains 50% penalty for under-reporting and 200% for misreporting income</h1> The Income Tax Bill 2025's Clause 439 largely mirrors Section 270A of the Income-tax Act 1961, establishing penalties for under-reporting and misreporting income. Both provisions impose 50% penalty for under-reporting and 200% for misreporting, using formula-based calculations to reduce arbitrariness. The clause defines seven scenarios constituting under-reporting, provides exceptions for bona fide explanations and voluntary disclosures, and distinguishes between inadvertent errors and deliberate falsification. Key differences include updated cross-references to new sections and minor variations in exclusions. The provision maintains procedural safeguards requiring written orders and prevents double penalization, continuing the objective, deterrent-focused approach while ensuring fairness in tax enforcement.