INCOME TAX ACT 2025
Income Tax Act 2025Chapter XXII

Section 446

Penalty for Under-Reporting / Concealment

Penalties
ITA 1961 Equivalent: S.270A, S.271(1)(c)
Key topics covered
#200% penalty#50% penalty#concealment#under-reporting
Section Overview

Section No.

446

Chapter

XXII

ITA 1961 Predecessor

S.270A, S.271(1)(c)

Chapter Context

Section 446 falls under Chapter XXII — Penalties of the Income Tax Act 2025. This act came into force on 1 April 2026, replacing the Income Tax Act 1961. The equivalent provision in the old act was S.270A, S.271(1)(c).

Frequently Asked Questions

Section 446 of the Income Tax Act 2025 deals with "Penalty for Under-Reporting / Concealment". It falls under Chapter XXII (Penalties). The equivalent provision in the old Income Tax Act 1961 was S.270A, S.271(1)(c). The Income Tax Act 2025 came into force on 1 April 2026, replacing the entire ITA 1961.

S.270A, S.271(1)(c) of the Income Tax Act 1961 corresponds to Section 446 of the Income Tax Act 2025 ("Penalty for Under-Reporting / Concealment"). The ITA 2025 reorganised and renumbered most provisions from ITA 1961 while retaining their substantive legal effect. Tax professionals and taxpayers familiar with the old numbering can use this section-by-section mapping to navigate the new act.

Section 446 ("Penalty for Under-Reporting / Concealment") is part of Chapter XXII — Penalties — of the Income Tax Act 2025. This chapter deals with penalties provisions applicable for Tax Year 2026-27 and onwards.