Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 455] [Entire Act]

Union of India - Subsection

Section 455(3) in The Income Tax Act, 2025

(3)The reporting financial institution as referred to in sub-section (2) shall be entitled to––
(a)recover the amount paid under sub-section (2) on behalf of the reportable account holder; or
(b)retain an amount equal to the sum so paid out of any moneys that may be in its possession, or may come to it from every such account holder.