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 Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
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
What does Section 272A of the Income Tax Act 1961 deal with?
Section 272A (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 Direct Tax Code 2025?
Section 272A of the ITA 1961 maps to Section 361 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 272A under the new tax code?
Section 272A is marked as "Retained" with status "Active". Impact: Medium - Enforces procedural discipline.
What are the key changes to Section 272A under DTC 2025?
Penalty amount enhanced to Rs. 500 per day for continuing defaults to ensure faster compliance.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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