Section 464
Section 464: penalty for failure to furnish statements, etc.
Section 464 penalises certain institutions - research associations, universities, colleges and approved funds - for failing to deliver documents, statements or certificates that other provisions of the Act require them to furnish. The Assessing Officer has discretion to fix the penalty amount within a stated range.
What Section 464 says
"The Assessing Officer may impose a penalty which shall not be less than ₹10,000 but which may extend up to ₹1,00,000 on-- (a) the research association, university, college or other institution referred to in section 45, if it fails to deliver or furnish the documents as may be prescribed under section 45(4)(a); or (b) the institution or fund, if it fails to deliver or cause to be delivered a statement within the time prescribed under section 354(1)(e), or furnish a certificate prescribed under section 354(1)(g)."
Who can be penalised
Two categories are covered:
- A research association, university, college or other institution referred to in section 45, for failing to deliver or furnish the documents prescribed under section 45(4)(a).
- An institution or fund, for failing to deliver a statement within the time prescribed under section 354(1)(e), or for failing to furnish a certificate prescribed under section 354(1)(g).
Penalty range
| Parameter | Detail |
|---|---|
| Minimum penalty | ₹10,000 |
| Maximum penalty | ₹1,00,000 |
| Who imposes it | The Assessing Officer, at discretion within this range |
Frequently asked questions
What is the penalty range under Section 464?
Not less than ₹10,000 and up to ₹1,00,000, as decided by the Assessing Officer.
Who does Section 464 apply to?
A research association, university, college or other institution referred to in section 45 that fails to furnish documents under section 45(4)(a), or an institution or fund that fails to deliver a statement or certificate within the time prescribed under section 354(1)(e) or (g).
Related sections
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