Section 272A → Section 361
Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections etc.
Quick Answer
Section 272A of the Income Tax Act, 1961 (Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections etc.) corresponds to Section 361 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.
What changed for Section 272A
Section 272A of the 1961 Act sets out the rules on penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections etc.. A general catch-all penalty (Rs. 10,000 or Rs. 500 per day) for various non-compliances like refusing to answer questions during a survey, not signing statements, or not filing SFT returns.
Under the Income-tax Act, 2025 (effective 1st April 2026), Section 272A is retained and renumbered as Section 361 of the Income-tax Act, 2025. Retained. The day-to-day administrative stick used by officers to enforce compliance.
The transition impact on Section 272A is assessed as Medium. Enforces procedural discipline.
Sec 272A
Provision Summary
A general catch-all penalty (Rs. 10,000 or Rs. 500 per day) for various non-compliances like refusing to answer questions during a survey, not signing statements, or not filing SFT returns.
Sec 361
Provision Summary
Retained. The day-to-day administrative stick used by officers to enforce compliance.
Key Changes & Highlights
- Penalty amount enhanced to Rs. 500 per day for continuing defaults to ensure faster compliance.
Related Sections
Frequently Asked Questions
Which subject does Section 272A of the 1961 Act cover?
Section 272A of the Income Tax Act, 1961 covers penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections etc.. A general catch-all penalty (Rs. 10,000 or Rs. 500 per day) for various non-compliances like refusing to answer questions during a survey, not signing statements, or not filing SFT returns.
What is the new section number for Section 272A under the Income-tax Act, 2025?
Section 272A of the Income Tax Act, 1961 maps to Section 361 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. The day-to-day administrative stick used by officers to enforce compliance.
How does the Income-tax Act, 2025 affect Section 272A in practice?
The transition impact for Section 272A is rated Medium. Enforces procedural discipline.
What is new about Section 272A under the Income-tax Act, 2025?
Penalty amount enhanced to Rs. 500 per day for continuing defaults to ensure faster compliance. These points are specific to Section 272A (Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections etc.).
Disclaimer: This mapping of Section 272A (Penalty for failure to answer questions, sign statements, furnish information, returns or statements, allow inspections etc.) to Section 361 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 272A is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.
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