Chapter XXI - Penalties
Section 464
Section 464: penalty for failure to furnish statements, etc.
Section 464 penalises certain institutions - research associations, universities, colleges and approved funds - for failing to deliver documents, statements or certificates that other provisions of the Act require them to furnish. The Assessing Officer has discretion to fix the penalty amount within a stated range.
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This article is for general information. Refer to the Income-tax Act, 2025 as amended by the Finance Act, 2026 and the Taxation and Other Laws (Amendment) Act, 2026 for the official provisions. If you need professional advice for your situation, contact Bizeneed.
Statutory text
Bare law
The Assessing Officer may impose a penalty which shall not be less than ₹10000 but which may extend up to ₹100000 on—
(a) the research association, university, college or other institution referred to in section 45, if it fails to deliver or furnish the documents as may be prescribed under section 45(4)(a); or
(b) the institution or fund, if it fails to deliver or cause to be delivered a statement within the time prescribed under section 354(1)(e), or furnish a certificate prescribed under section 354(1)(g).
Introduction
Section 464 permits a penalty of ₹10,000 to ₹1,00,000 for specified research bodies, institutions or funds that fail to furnish the named statement, certificate or documents under sections 45 or 354.
Key takeaways
Two routes
Clause (a) concerns section 45 documents; clause (b) concerns the section 354 statement or certificate.
Penalty amount
The Assessing Officer may impose at least ₹10,000 and up to ₹1,00,000.
Prescribed obligation
The specific document, form and time come from the cross-referenced provision and rules.
What Section 464 says
"The Assessing Officer may impose a penalty which shall not be less than ₹10,000 but which may extend up to ₹1,00,000 on-- (a) the research association, university, college or other institution referred to in section 45, if it fails to deliver or furnish the documents as may be prescribed under section 45(4)(a); or (b) the institution or fund, if it fails to deliver or cause to be delivered a statement within the time prescribed under section 354(1)(e), or furnish a certificate prescribed under section 354(1)(g)."
Who can be penalised
Two categories are covered:
- A research association, university, college or other institution referred to in section 45, for failing to deliver or furnish the documents prescribed under section 45(4)(a).
- An institution or fund, for failing to deliver a statement within the time prescribed under section 354(1)(e), or for failing to furnish a certificate prescribed under section 354(1)(g).
Penalty range
| Parameter | Detail |
|---|---|
| Minimum penalty | ₹10,000 |
| Maximum penalty | ₹1,00,000 |
| Who imposes it | The Assessing Officer, at discretion within this range |
Step-by-step flow for applying Section 464
- 1
Which entity is involved?
- A research association, university, college or other institution referred to in section 45: Go to the next step.
- An institution or fund referred to in section 354: Skip to step 3.
- Neither: Section 464 does not apply.
- 2
Did it fail to deliver or furnish the documents prescribed under section 45(4)(a)?
The documents are those prescribed by rules; Section 464 does not list them.
- No: No penalty under Section 464(a).
- Yes: Skip to step 4.
- 3
Did the institution or fund fail to deliver a statement within the time prescribed under section 354(1)(e), or fail to furnish a certificate prescribed under section 354(1)(g)?
- No: No penalty under Section 464(b).
- Yes: Go to the next step.
- 4
Penalty the Assessing Officer may impose
Not less than ₹10,000 and up to ₹1,00,000. Note that Section 464 is not among the provisions listed in Section 470 (reasonable cause), so that section's protection cannot be assumed.
Practical checklist
Do
- Match the notice to section 45 or 354 and the exact statement, document or certificate.
- Keep the statutory due date and delivery acknowledgement.
Avoid
- Do not treat this penalty as applying to all late charity filings.
Illustrative example
Worked example: a college misses the prescribed documents
Hypothetical facts (illustration only, not a real taxpayer): A college referred to in section 45 does not deliver the documents prescribed under section 45(4)(a) for a year because its accounts staff changed. The facts are assumed.
Coverage
The college is an institution referred to in section 45, so Section 464(a) applies.
Failure
It failed to deliver the documents prescribed under section 45(4)(a).
Range
The Assessing Officer may impose a penalty of not less than ₹10,000 and up to ₹1,00,000. Within that range, the amount is for the officer to decide.
Reasonable cause
Section 470 does not list Section 464, so the college cannot rely on that section. It can still make its case at the hearing required by Section 471(1).
Outcome
- Exposure is a penalty between ₹10,000 and ₹1,00,000.
- The college should deliver the documents and keep records of when they were delivered.
Frequently asked questions
What is the penalty range under Section 464?
Not less than ₹10,000 and up to ₹1,00,000, as decided by the Assessing Officer.
Who does Section 464 apply to?
A research association, university, college or other institution referred to in section 45 that fails to furnish documents under section 45(4)(a), or an institution or fund that fails to deliver a statement or certificate within the time prescribed under section 354(1)(e) or (g).
Need help applying this provision to your situation?
Talk to our tax team about a compliance noticeLast updated 9 October 2026