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of <h1>Income Tax Bill 2025 Clause 465 mirrors existing penalty structure but removes explicit hearing requirement</h1> The Income Tax Bill 2025's Clause 465 largely mirrors Section 272A of the Income Tax Act 1961, imposing penalties for procedural non-compliance. Both provisions penalize failures to answer questions, sign statements, attend summons, or furnish required information. Clause 465 maintains the same penalty structure: Rs. 10,000 per default for specific failures and Rs. 500 per day for continuing defaults, with penalties capped at the tax amount involved. The new provision updates section references to align with the restructured Bill while retaining the same competent authorities for penalty imposition. However, unlike Section 272A, Clause 465 lacks an explicit provision requiring opportunity of hearing before penalty imposition, potentially raising procedural fairness concerns.
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