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of <h1>Income Tax Bill 2025 Clause 468 sets Rs 10,000 penalty for TAN violations under Section 397</h1> The Income Tax Bill 2025's Clause 468 imposes a penalty of Rs. 10,000 for non-compliance with Tax Deduction and Collection Account Number requirements under Section 397. The provision has two components: failure to comply with TDCAN/TAN requirements, and knowingly quoting false account numbers in documents like challans and certificates. This replaces Section 272BB of the Income-tax Act 1961, maintaining the same penalty amount but with subtle changes in language regarding mental element requirements. The Assessing Officer retains discretionary power to impose penalties, though the new provision omits explicit procedural safeguards for opportunity of being heard that existed in the previous section.
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