Substitution of new section for section 446
Section 101 of the Finance Act, 2026 deals with substitution of new section for section 446. Substitution of new section for section 446.
Substitution of new section for section 446.
101. For section 446 of the Income-tax Act, the following section shall be substituted, namely:—
"446. Penalty for failure to furnish information or for furnishing inaccurate information on transaction of crypto-asset.—
(1) If any person who is required to furnish a statement in respect of a transaction of a crypto-asset under section 509(1), fails to furnish such statement within the time prescribed under the said section, the prescribed income-tax authority under that section may impose on him, a penalty of Rs. 200 for every day for which such failure continues.
(2) The prescribed income-tax authority may impose a penalty of Rs. 50000 on a person referred in sub-section (1), if such person—
Section 101, The Finance Act, 2026 (Act 4 of 2026).
(a) provides inaccurate information in the statement and fails to remove such inaccuracy as per section 509(4); or (b) fails to comply with due diligence the requirement under section 509(5)."
Questions about Section 101
What does Section 101 of the Finance Act deal with?
Section 101 of the Finance Act is headed "Substitution of new section for section 446". Substitution of new section for section 446.
How do I find court cases under Section 101 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2026 101, section 101 Finance Act 2026, section 101 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
When was the Finance Act enacted?
Finance Act was enacted in 2026 as Act 4 of 2026. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. -11686 words
- 3. Income-tax under Act 30 of 20258033 words
- Fourth Schedule. -4078 words
- 2. Income-tax under Act 43 of 19612736 words
- 26. Substitution of new sections for sections 276B, 276BB, 276C, 276CC, 276CCC and 276D1437 words
- Fifth Schedule. -1363 words
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