Summary Chart for Offences and Prosecution under Income Tax Act

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..... Failure to afford necessary facility to the authorized officer to inspect books of account or other documents as required under section 132(1)(iib) Any period up to 2 years and fine. 2 years and fine. 276 Fraudulent removal, concealment, transfer or delivery of property to thwart tax recovery being taken in execution of a certificate under the provisions of Second Schedule relating to procedure for recovery of tax Any period up to 2 years and fine. 2 years and fine. 276A Failure to comply with the provisions of section 178(1) and (3) i.e., the liquidators failure to: (i) inform about .....

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..... rest imposable or under reports income under the Act. If amount sought to be evaded or tax on under-reported income exceeds 25,00,000, 6 months and fine otherwise 3 months and fine. If amount sought to be evade exceeds 25,00,000, 7 years and fine otherwise 2 years and fine. 276C(2) Willful attempt in any manner to evade the payment of any tax, penalty or interest 3 months and fine 2 years and fine 276CC Willful failure to file return of income in time under section 139(1), or in response to notice under section 142(1) or section 148 or section 153A. If tax sought to be evaded exceeds 25,0 .....

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..... ounts audited under section 142(2A) Any period upto 1 year and fine. 1 year and fine. 277 Making a false statement in verification or delivering a false account or statement. If tax evaded exceeds ₹ 25,00,000: 6 months and fine: otherwise: 3 months and fine. If tax evaded exceeds ₹ 25,00,000: 7 years and fine otherwise: 2 years and fine. 277A Wilful and with intent to enable any other person to evade any tax or interest or penalty makes or causes to be made any entry or statement which is false and which the first person either knows to be false or does not believe to be true .....

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