Section 464 — Penalty for failure to furnish statements, etc. Successor to s.271K of the 1961 Act.
Section 464 is in Chapter XXI — Penalties, which runs from section 439 to section 472.
The Assessing Officer may impose a penalty of not less than Rs. 10,000 and up to Rs. 1,00,000 on two classes of defaulter. Clause (a) covers a research association, university, college or other institution referred to in section 45 that fails to deliver or furnish the documents as may be prescribed under section 45(4)(a). Clause (b) covers an institution or fund that fails to deliver or cause to be delivered a statement within the time prescribed under section 354(1)(e), or to furnish a certificate prescribed under section 354(1)(g).
The deductions claimed by donors and contributors are verified against statements and certificates filed by the recipient institution, so that filing is what makes the claim checkable. The penalty gives the obligation a sanction of its own, independent of what happens to the donor's claim.
| What | Figure | The condition on it | Where |
|---|---|---|---|
| Minimum penalty | Rs. 10,000 | The penalty imposed shall not be less than this amount | Section 464 |
| Maximum penalty | Rs. 1,00,000 | A ceiling — the penalty may extend up to this amount, not a fixed sum | Section 464 |
The section gives a range, not a figure: once the Assessing Officer decides to impose, the amount must be at least Rs. 10,000 and may go up to Rs. 1,00,000, and neither end is the default. The defaults are specific — the prescribed documents under section 45(4)(a), or the statement within the time prescribed under section 354(1)(e) or the certificate prescribed under section 354(1)(g) — so a delay in the statement is itself the default, without more.
A fund fails to deliver the statement under section 354(1)(e) within the prescribed time and also does not furnish the certificate prescribed under section 354(1)(g). Clause (b) is attracted and the Assessing Officer may impose a penalty which cannot be below Rs. 10,000 and cannot exceed Rs. 1,00,000; the exact amount is his to fix within that range.
An institution or fund meets it as a show cause notice and then a penalty order addressed to it after a statement or certificate is not filed in time. An individual donor never faces this penalty, though the same default may affect the evidence for a claim.
may impose a penalty which shall not be less than Rs. 10000 but which may extend up to Rs. 100000
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)
See the full 1961 to 2025 concordance.