Janvishwas Bill Gazette notified

The Janvishwas Bill amendment Act 2023 was gazette notified yesterday. This contains many amendments to ITA 2000 which had been provisionally incorporated in the copy of ITA 2000 which is available on this website.

Now they may be considered as finalized amendments.

The copy of the Act is available here

List of Amendments to ITA 2000

Section 33: Failure to Surrender of CA license which has been revoked: Penalty of Rs 5 lakhs. No Imprisonment

Section 44: Penalty for failure to furnish information, return etc penalties increased

a) From 1.50 lakhs to 15 lakhs for not furnishing the required document

b) from Rs 5000/- to Rs 50000/- per day for not submitting returns

c) from 10000/ to Rs 1 lakh for not maintaining books

Section 45: Residuary Penalty increased from Rs 25000/- to Rs 1 lakh and compensation increased from Rs 25000/- to Rs 1 lakh for an individual and Rs 10 lakh for an Intermediary or company

Section 46: “Under this Chapter” changed to “Under this Act” and the word “injury” removed

Section 67C: Penalty up to Rs 25 lakhs from and no imprisonment.

Section 68: Penalty increased to Rs 25 lakhs and imprisonment removed

Section 69B: Imprisonment reduced from 3 years to 1 year and Fine increased to Rs 1 crore

Section 70B: Penalty raised from Rs 1 lakh to Rs 1 crore

Section 72: Penalty increased to Rs 5 lakhs, Imprisonment term removed

Section 72A: Penalty increased to Rs 25 lakhs, Imprisonment removed


About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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