Income Tax Department

Ministry of Finance, Government of India

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Section 450

Penalty for failure to comply with provisions of section 185

Section

Section Number

450

Chapter

CHAPTER XXI - Penalties

Act

Income-tax Act, 2025

Year

2026

Penalty for failure to comply with provisions of section 185

Penalty for failure to comply with provisions of section 185.

450. If a person takes or accepts any loan or deposit or specified sum in contravention of the provisions of section 185, the Assessing Officer may impose on him, a penalty equal to the amount of the loan or deposit or specified sum so taken or accepted.

Footnotes