ITO Section 195

Prosecution for making false or misleading statements.

(1) A person who—

(a) makes a statement to [an income tax authority] that is false or misleading in a material particular; or
(b) omits from a statement made to [an income tax authority] any matter or thing without which the statement is misleading in a material particular,

shall commit an offence punishable on conviction—

(i) where the statement or omission was made knowingly or recklessly, with a fine or imprisonment for a term not exceeding two years, or both; or
(ii) in any other case, with a fine.

(2) A person shall not commit an offence under sub-section (1) if the person did not know and could not reasonably be expected to have known that the statement to which the prosecution relates was false or misleading.

(3) [“Entry against S.No 10 in column (2) of the Table in sub-section (1) of section 182”] shall apply in determining whether a person has made a statement to [an income tax authority].