Penalty re Failure to Comply with s. 397 TAN-26AS

Section 468 — - PENALTY RE FAILURE TO COMPLY WITH S. 397 TAN-26AS

Section 468 of the Income-tax Act, 2025 corresponds to s. 272BB of the Income-tax Act, 1961.

STATUTORY ARCHITECTURE

INR 10,000 for failure re TAN, Form 26AS or quarterly statements.

PRACTITIONER PLANNING NOTES

• TAN application + quoting on challans + statement filing -- compliance triad.

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).