Section 428 Fee for default in furnishing return of income, audited accounts and reports
- Part
- F.—LEVY OF FEE IN CERTAIN CASES
- Amendments
- 1
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"Without prejudice to the provisions of this Act, where any person—
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(a) required to furnish a return of income under section 263, fails to do so within the due date, as specified under sub-section (1) of the said section, he shall be liable to pay by way of fee,––
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(i) a sum of ₹ 1000, if the total income of such person does not exceed ₹ 500000; and
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(ii) a sum of ₹ 5000, in any other case;
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(b) furnishes a return of income under section 263(5) beyond nine months from the end of relevant tax year, he shall be liable to pay by way of fee,––
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(i) a sum of ₹ 1000, if the total income of such person does not exceed ₹ 500000; and
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(ii) a sum of ₹ 5000, in any other case;
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(c) fails to get his accounts audited for any tax year or years and furnish the report of such audit as required under section 63, he shall be liable to pay by way of fee,––
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(i) a sum of ₹ 75000 for a delay up to one month for which such failure continues; and
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(ii) a sum of ₹ 150000 thereafter;
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(d) fails to furnish a report from an accountant as required by section 172, he shall be liable to pay by way of fee,––
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(i) a sum of ₹ 50000 for a delay up to one month for which such failure continues; and
Section 428 substituted by Finance Act, 2026, s. 96, dated 30th March, 2026, with effect from 1 April 2026. Earlier read: "section 428"(ii) a sum of ₹ 100000 thereafter.