| Section No. | Nature of default | Penalty | Officer who shall impose the penalty | No penally for reasonable cause i.e. whether section 273 is applicable |
| 1 | 2 | 3 | 4 | 5 |
| 271CA | Failure to collect the whole or any part of tax as required by or under the provisions of Chapter XVIIBB | Sum equal to the amount of tax which he / it failed to collect | Joint Commissioner | Yes |
| 272A(2)(g) | Failure to furnish certificate as required under section 206C | Rs. 100 for every day during which the failure continues but the penalty shall not exceed the amount of tax collected | Joint Commissioner | Yes |
| 272A(2)(/) | Failure to deliver or cause it to be delivered a copy of declaration under Form No. 27C in due time | Rs. 100 for every day during which the failure continues but the penalty shall not exceed the amount of tax collected | Joint Commissioner | Yes |
| 272A(2)(k) | Failure to deliver or cause to be delivered statement within the time prescribed in proviso to Section 206C (3) (Not applicable on or after 1.7.2012. ) | Rs. 100 for every day during which the failure continues The penalty shall not exceed the amount of tax collectible at source | Joint Commissioner | Yes |
| 272A(2)(m) | Failure to deliver or cause to be delivered a statement within the time as may be prescribed under section 206C(3A) | Rs. 100 for every day during which the failure continues | Joint Commissioner | Yes |
| 276BB | Failure to pay the tax collected at source | Punishable with rigorous imprisonment for a term which shall not be less than3 months but which may extend to 7 years and with fine. | With previous sanction of Principal Chief Corn-missioner or Chief Commissioner/ Principal Commissioner or Commissioner/ Principal Director General or Director General | Yes |
Related Posts:
·
[Section 153]-
Time Limit for Completion of all Assessments and Re-Assessment
In respect of an order of assessment relating to assessment year commencing on
1.4.2018 — In respect of an…
·
Deductions from
Gross Total Income for computing Taxable Income 1.
[Section 80CCC]- Deduction in respect of Contribution to certain Pension Fund
Essential Conditions for Claiming Deduction under this Section…
·
[Section 195]-
TDS on Payment to a Non-Resident 1. TDS on income
of Non-Resident: Any person responsible for paying to a non-resident, not being
a company, or to…
·
Alternate
Minimum Tax (AMT) on all Persons other than Companies [Section 115JC to 115JF… AMT.
which was hitherto applicable to LLP only. has been made applicable to all
assessees other than a company. (1)…
·
GST
Registration, Modification and Cancellation Procedure The
registration in GST is PAN based and State specific. Supplier has to register
in each of such State or…
·
Taxation In
Companies - Company Taxation 1. [Section 6(3)]-
Definitions & Types of Companies with Residential Status (1).
Definition and Types of Companies 1. Company: As…
·
Income Tax
Assessment Procedure in details 1. Self-Assessment
[Section 140A] before Submitting Return of Income Every person, before
submitting a return of income under: (i)
…
·
TDS from Salary
[Section 192] 1. [Section 192(1)]- Tax to be Deducted
at average of Income-Tax: Any person responsible far paving any income
chargeable under…
·
[Section 142]-
Enquiry by the Assessing Officer before Assessment 1. Service
of a Notice [Section 142(1)] of Income Tax Act 1961.: For the purpose of making
an assessment, the…
·
Levy of Tax
where the Charitable Institution ceases to exist or converts into a Non-… 1.
[Section 115TD]- Tax on Accreted Income of Trust or Institution (i)
[Section 115TD (1)]- Accreted income of Trust…
·
Return of Income
[Section 139 to 140] 1. [Section 139(1)]-
Submission of Return of Income According to section 139(1), the following persons
are required to furnish return…
·
[Section 193]-
TDS from Interest on Securities Under Section 2(28B), Interest
on Securities means.— (i) interest
on any security of the Central Government or a State…
·
[Section 30 to
37]- Expenses Allowed as a Deduction for computing Income under ‘Profit &… 1.
[Section 30]- Rent, Rates, Taxes, Repairs and Insurance for Buildings –
for computing Profit & Gains of Business or…
·
Assessment of
Charitable Trusts and Institutions 1. Exemption
Under Section 11 to 13 in case of Public Trusts for Charitable or Religious
Purposes The income derived…
·
[Section 133A] -
‘Survey’ under Income Tax Act. ‘Survey’ contemplates a
comprehensive and extensive view of the business or charitable activities of an
assessee, subject to the limitations…
·
Accounts and
Records under GST [Section 35 of the CGST Act] Accounts and
other records play a very important role in GST Regime due to following reasons:
(i) GST is…
·
Person Deducting
TDS to File Statement of TDS [Section 200(3) and Rule 31A(1)] (1)
[Rule 31A(1)]- Forms of Filing Quarterly Statement Every person responsible for
deduction of tax under Chapter XVII-B (other than…
·
Levy and
Collection of GST under CGST Act, IGST Act and UTGST Act. Taxable
event and point of time for payment of tax were two different aspects under
indirect tax law in preGST…
·
Services Exempt
from GST Notification No. 12/2017-Central Tax (Rate), dated
28.6.2017 has Exempted following Services from CGST/IGST respectively: SL. No.
Description of Services 1…
·
[Section 273A]-
Power to Reduce or Waive Penalty (A) [Section 273A(1)]- Power
to Reduce or Waive Penalty imposed or imposable for default under Section 270
or Section 271(1)(c)…