Penalty re Inaccurate Information in TDS Statement

Section 462 — - PENALTY RE INACCURATE INFORMATION IN TDS STATEMENT

Section 462 of the Income-tax Act, 2025 corresponds to s. 271J of the Income-tax Act, 1961.

STATUTORY ARCHITECTURE

INR 10,000 per default for inaccurate information by accountant, merchant banker or registered valuer in report or certificate.

PRACTITIONER PLANNING NOTES

• Tax-audit, TP-report, valuation report responsibility on professionals.

CROSS-REFERENCES

• s. 439 (under-reporting or misreporting -- master penalty).
• s. 440 (immunity application).
• s. 469 or 470 (waiver or reasonable-cause).
• s. 471 or 472 (procedure or limitation).