Section 456 Income Tax Act 2025
Penalty for failure to furnish statement or information or document by an eligible investment fund.
456. If any eligible investment fund required to furnish a statement or any information or document under paragraph 4 of Schedule I, fails to do so within the time prescribed under the said paragraph, the income-tax authority prescribed under the said paragraph may direct that such fund shall pay, by way of penalty, a sum of ₹ 500000.