§482

Section 482 — False statement in verification, etc

Income-tax Act, 2025 (amended upto 2026)

In plain terms: This section punishes a false statement in a verification or a false account or statement delivered under the Act, if the person knows or believes it to be false, with imprisonment and fine depending on the amount of tax involved.

If a person makes a statement in any verification under this Act or under any rule made thereunder, or delivers an account or statement which is false, and which he either knows or believes to be false, or does not believe to be true, he shall be punishable,--

[133][(a) with simple imprisonment for a term up to two years, or with fine, or with both, where the amount of tax, which would have been evaded if the statement or account had been accepted as true, exceeds fifty lakh rupees; or

(b) with simple imprisonment for a term up to six months, or with fine, or with both, where the amount of tax, which would have been evaded if the statement or account had been accepted as true, exceeds ten lakh rupees but does not exceed fifty lakh rupees; or