Income Tax Act 1947 · 2020 Revised Edition · Part 20 · Offences and Penalties
95. Penalty for incorrect return, etc.
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Subject to the provisions of Part 18, every person who —
makes an incorrect return by omitting or understating any income of which the person is required by this Act to make a return;
gives any incorrect information in relation to any matter affecting the person’s own liability to tax or the liability of any other person or of a partnership; or
fails to comply with section 76(8),shall be guilty of an offence for which, on conviction, the person shall pay a penalty equal to —
the amount of tax;
the amount of PIC bonus; or
the amount of tax and the amount of PIC bonus,as the case may be, that has been undercharged, obtained, or undercharged and obtained as a result of the incorrect return or information or failure, or that would have been so undercharged, obtained, or undercharged and obtained if the return or information had been accepted as correct or if a notice had not been provided in accordance with section 76(8).
Every person who without reasonable excuse or through negligence —
makes an incorrect return by omitting or understating any income of which the person is required by this Act to make a return;
gives any incorrect information in relation to any matter affecting the person’s own liability to tax or the liability of any other person or of a partnership; or
fails to comply with section 76(8),shall be guilty of an offence for which, on conviction, the person shall pay a penalty equal to double —
the amount of tax;
the amount of PIC bonus; or
the amount of tax and the amount of PIC bonus,as the case may be, that has been undercharged, obtained, or undercharged and obtained as a result of the incorrect return or information or failure, or that would have been so undercharged, obtained, or undercharged and obtained if the return or information had been accepted as correct or if a notice had not been provided in accordance with section 76(8), and shall also be liable to a fine not exceeding $5,000 or to imprisonment for a term not exceeding 3 years or to both.
The Comptroller may compound any offence punishable under subsection (1) or (2), and may before judgment stay or compound any proceedings thereunder.
Comptroller
“Comptroller” means the Comptroller of Income Tax appointed under section 3(1) and includes, for all purposes of this Act except the exercise of the powers conferred upon the Comptroller by sections 34F(9), 37L(7), 37M(5), 67(1)(a), 95, 96, 96A and 101, a Deputy Comptroller or an Assistant Comptroller so appointed;
In this section, a reference to the amount of PIC bonus that has been obtained by a person as a result of an incorrect return or information, or that would have been so obtained if the return or information had been accepted as correct, excludes an amount of PIC bonus that the person is entitled to.
In this section, “PIC bonus” means a payment under section 37H.