Section 467 — Penalty re Failure to Comply with s. 262 PAN Provisions | ITA 2025

Section 467 of the Income-tax Act, 2025 corresponds to s. 272 B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE INR 10,000 for failure to comply with PAN provisions -- non-application, non-quoting, false PAN, etc. PRACTITIONER…

Section 467 — - PENALTY RE FAILURE TO COMPLY WITH S. 262 PAN PROVISIONS

Section 467 of the Income-tax Act, 2025 corresponds to s. 272B of the Income-tax Act, 1961.

Statutory text — Income-tax Act, 2025

(1) If a person fails to comply with the provisions of section 262, the Assessing Officer may impose a penalty of ` 10000 on him.

(2) If a person, required to quote or intimate his Permanent Account Number or Aadhaar number in any document as referred to in section 262(9)(a), provides or quotes or intimates a number which is false, knowing or believing it to be false, the Assessing Officer may impose a penalty of ` 10000 on him for each such default.

(3) If a person fails to quote or authenticate his Permanent Account Number or Aadhaar number in any document referred to in section 262(9)(a), the Assessing Officer may impose a penalty of ` 10000 on him for each such default.

(4) If a person referred to in section 262(9)(b) responsible for ensuring the correct quoting or authentication of Permanent Account Number or Aadhaar number, in documents relating to transactions prescribed under section 262(9)(a) fails to do so, the Assessing Officer may impose a penalty of ` 10000 on him for each such default. Penalty for failure to comply with the provisions of section 397.

STATUTORY ARCHITECTURE

INR 10,000 for failure to comply with PAN provisions -- non-application, non-quoting, false PAN, etc.

PRACTITIONER PLANNING NOTES

PAN-Aadhaar linkage compliance; PAN quoting in financial transactions.

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).

← All sections (537)Act 2025 hub

INCOME-TAX ACT, 2025	INCOME-TAX ACT, 1961
2025 provision	1961 counterpart
s. 467 -- Penalty re Failure to Comply with s. 262 PAN Provisions	s. 272B