Penalty May Rise 25x for Non-Compliance with Tax Officer Requests from April 2026
The Finance Bill, 2026 proposes a sharp increase in penalty for failing to provide business information to tax officers. The penalty may rise from ₹1,000 to ₹25,000, signaling stricter compliance under the new Income-tax framework.
CA Nisha Agarwal
@ca_nisha
CA
Chartered Accountant | GST & Income Tax | Jaipur | 8 years in practice