IT Act 1961 → 2025 / Sections 271A–275B
PenaltiesOther penalties: books, audit, SFT, transfer pricing, PAN/TAN, procedure and limitation
Sections 271A–275B of the old Income-tax Act, 1961 · new sections 441–474 under the Income-tax Act, 2025
New reference Sections 441 to 474 (penalties) and 428 (fees)
Applies to FY 2025-26 (AY 2026-27) and earlier years.
Applies from tax year 2026-27 (from 1 April 2026).
| 1961 Act | Subject | 2025 Act |
|---|---|---|
| 271A | Failure to keep, maintain or retain books of account, documents, etc | 441 |
| 271AA | Failure to keep transfer pricing information and documents (92D) | 442 |
| 271AAC | Penalty on income under sections 68–69D | 443 — omitted by FA 2026 |
| 271AAD | Penalty for false entry, etc., in books of account | 444 |
| 271AAE | Benefits to related persons (trusts) | 445 |
| 271B | Failure to get accounts audited | 428(c) fee — 446 as enacted, substituted by FA 2026 |
| 271BA | Failure to furnish transfer pricing report (92E) | 428(d) fee — 447 as enacted, omitted by FA 2026 |
| 271CA | Penalty for failure to collect tax at source | 449 |
| 271DB | Penalty for failure to comply with provisions of section 269SU | 452 |
| 269SU | Acceptance of payment through prescribed electronic modes | 187 (penalty: 452) |
| 271FA | Failure to furnish SFT / reportable account | 454 (substituted by FA 2026) |
| 271FAA | Penalty for furnishing inaccurate statement of financial transaction or reportable account | 455 |
| 271FAB | Failure by eligible investment fund to furnish statement | 456 |
| 271G | Penalty for failure to furnish information or document under section 92D | 457 |
| 271GA | Penalty for failure to furnish information or document under section 285A | 458 |
| 271GB | Penalty for failure to furnish report or for furnishing inaccurate report under section 286 | 459 |
| 271GC | Penalty for failure to submit statement under section 285 | 460 |
| 271-I | Failure to furnish / inaccurate information under section 195(6) (Form 15CA/CB) | 462 |
| 271J | Incorrect information in reports or certificates | 463 |
| 271K | Penalty for failure to furnish statements, etc | 464 |
| 272A | Failure to answer questions, sign statements, furnish information | 465 |
| 272AA | Penalty for failure to comply with section 133B | 466 |
| 272B | Penalty for failure to comply with the provisions of section 139A | 467 |
| 272BB | Penalty for failure to comply with the provisions of section 203A | 468 |
| 273A | Power to reduce or waive penalty, etc., in certain cases | 469 |
| 273B | Penalty not to be imposed in certain cases | 470 |
| 274 | Procedure | 471 |
| 275 | Bar of limitation for imposing penalties | 472 |
| 275A | Contravention of order made under sub-section (3) of section 132 | 473 |
| 275B | Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132 | 474 |
Source: CBDT mapping of sections, Income-tax Act 1961 to Income-tax Act 2025.
Finance Act 2026 (w.e.f. 1 April 2026) converted the audit and transfer pricing report penalties into fixed fees under section 428, substituted section 446 with a crypto-asset reporting penalty, omitted section 443 (the 10% penalty on unexplained income) and rewrote section 454 (SFT default).
After Finance Act 2026 it is a fee under section 428(c): ₹75,000 if the delay is up to one month and ₹1,50,000 after that. The old 271B penalty (0.5% of turnover, max ₹1,50,000) applies to FY 2025-26 and earlier.
CBDT mapped 271B to section 446, but Finance Act 2026 replaced it with a fee under section 428(c); section 446 now deals with crypto-asset reporting.
Its counterpart, section 443, was omitted by Finance Act 2026 with effect from 1 April 2026.
Section 271A of the Income-tax Act, 1961 (Failure to keep, maintain or retain books of account, documents, etc) corresponds to section 441 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 271AA of the Income-tax Act, 1961 (Failure to keep transfer pricing information and documents (92D)) corresponds to section 442 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 271AAC of the Income-tax Act, 1961 (Penalty on income under sections 68–69D) corresponds to section 443 — omitted by FA 2026 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 271AAD of the Income-tax Act, 1961 (Penalty for false entry, etc., in books of account) corresponds to section 444 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 271AAE of the Income-tax Act, 1961 (Benefits to related persons (trusts)) corresponds to section 445 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Section 271B of the Income-tax Act, 1961 (Failure to get accounts audited) corresponds to section 428(c) fee — 446 as enacted, substituted by FA 2026 of the Income-tax Act, 2025, which applies from 1 April 2026 (tax year 2026-27).
Finance Act 2026 (w.e.f. 1 April 2026) converted the audit and transfer pricing report penalties into fixed fees under section 428, substituted section 446 with a crypto-asset reporting penalty, omitted section 443 (the 10% penalty on unexplained income) and rewrote section 454 (SFT default).