Failure to collect the whole or any part of the tax collected
at source as required under Sections 206C and 206CA in Chapter
XVIIBB of the Income Tax Act.
|
Sum equal to the
amount of tax which was due for collection but was not
collected.
|
Joint Commissioner |
Section 271CA |
| Failure to issue
TCS certificates u/s 206C |
Rs. 100 for every day during which the failure continues but
penalty restricted to the amount of tax collected.
|
Joint Commissioner |
Section 272A(2)(g) |
| Failure to deliver
or cause it to be delivered on time, a copy of declaration
under Form no. 27C in due time. |
Rs. 100 for every day during which the failure continues but
penalty restricted to the amount of tax collected.
|
Joint Commissioner |
Section 272A(2)(j) |
| Failure to deliver
or cause to be delivered on time, a copy of the Quarterly
statement within the time specified u/s 206C(3) |
Rs. 100 for every day during which the failure continues but
penalty restricted to the amount of tax collectible at source.
|
Joint Commissioner |
Section 272A(2)(k) |
| Failure to pay tax
collected at source to the credit of Central Govt. |
Punishable with rigorous imprisonment for a term of atleast
THREE months, which may be extended to SEVEN years along with
fine.
|
Previous sanction
of Chief Commissioner or Commissioner or Director General.
|
Section 276BB |