Income Tax Act · 2024 Revised Edition · Part · Offences and Penalties
79. Penalty for making incorrect return
Official textFrom Attorney General's Chambers, unchanged
Every person who without reasonable excuse —
makes an incorrect return by omitting or understating any income of which he is required by this Act to make a return; or
gives any incorrect information in relation to any matter or thing affecting his own liability to tax or the liability of any other person or of a partnership, is guilty of an offence and liable on conviction to a fine of $10,000 and double the amount of tax which has been undercharged in consequence of such incorrect return or information, or would have been so undercharged if
Income Tax the return or information had been accepted as correct, and in default of payment to imprisonment for 12 months.
Every person who without reasonable excuse or through negligence —
makes an incorrect return by omitting or understating any income of which he is required by this Act to make a return; or
gives any incorrect information in relation to any matter affecting his own liability to tax or the liability of any other person or of a partnership, is guilty of an offence for which, on conviction, he shall pay a penalty equal to double the amount of tax which has been undercharged in consequence of such incorrect return or information, or which would have been so undercharged if the return or information had been accepted as correct, and shall also be liable to a fine not exceeding $5,000, imprisonment for a term not exceeding 12 months or both.
The Collector may compound any offence against this section, and may, before judgment, stay or compound any proceedings thereunder:
Collector
“Collector” means the Collector of Income Tax appointed under section 3 and includes for all purposes of this Act, except the powers conferred on the Collector by sections 76, 79, 80 and 83, a Deputy Collector so appointed;
Provided that any proceedings commenced at the instance of or with the sanction of the Public Prosecutor shall not be stayed or compounded without the consent of the Public Prosecutor.
Terms defined in s 2
Collector
Defined · s 2“Collector” means the Collector of Income Tax appointed under section 3 and includes for all purposes of this Act, except the powers conferred on the Collector by sections 76, 79, 80 and 83, a Deputy Collector so appointed;