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CHAPTER XIX COLLECTION AND RECOVERY OF TAX Fee for default in furnishing return of income 1[428. Without prejudice to the provisions of this Act, where any person– (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,–– (i) a sum of Rs 1000, if the total income of such person does not exceed Rs 500000; and (ii) a sum of Rs 5000, in any other case; (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,–– (i) a sum of Rs 1000, if the total income of such person does not exceed Rs 500000; and (ii) a sum of Rs 5000, in any other case; (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,–– (i) a sum of Rs 75000 for a delay up to one month for which such failure continues; and (ii) a sum of Rs 150000 thereafter; (d) fails to furnish a report from an accountant as required by section 172, he shall be liable to pay by way of fee,–– (i) a sum of Rs 50000 for a delay up to one month for which such failure continues; and (ii) a sum of Rs 100000 thereafter.”. ] Note: 1.Substituted by The Finance Bill 2026 dated 01.02.2026 w.e.f. 01.04.2026 For the Word
428.Without prejudice to the provisions of this Act, where, a person required to furnish a return of income under section 263fails to do so within suchtime as may be prescribed in section 263(1),he shall pay, by way of a fee,– (a)a sum not exceeding Rs1000, if the total income of such person does not exceed Rs500000; (b)a sum of Rs5000, in any other case.
Shall be Substituted namely :428. Without prejudice to the provisions of this Act, where any person– (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,–– (i) a sum of Rs 1000, if the total income of such person does not exceed Rs 500000; and (ii) a sum of Rs 5000, in any other case; (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,–– (i) a sum of Rs 1000, if the total income of such person does not exceed Rs 500000; and (ii) a sum of Rs 5000, in any other case; (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,–– (i) a sum of Rs 75000 for a delay up to one month for which such failure continues; and (ii) a sum of Rs 150000 thereafter; (d) fails to furnish a report from an accountant as required by section 172, he shall be liable to pay by way of fee,–– (i) a sum of Rs 50000 for a delay up to one month for which such failure continues; and (ii) a sum of Rs 100000 thereafter.”.
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