Section - 271C (of Income Tax Act, 1961), Penalty for failure to deduct tax at source
Section - 271C (of Income Tax Act, 1961), Penalty for failure to deduct tax at source
Penalty for failure to deduct tax at source.
(1) If any person fails to—
(a) deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B; or
(b) pay or ensure payment of, the whole or any part of the tax as required by or under—
(i) sub-section (2) of section 115-O (of Income Tax Act, 1961);
(ii) the proviso to section 194B (of Income Tax Act, 1961);
(iii) the first proviso to sub-section (1) of section 194R (of Income Tax Act, 1961); or
(iv) the proviso to sub-section (1) of section 194S (of Income Tax Act, 1961); or
(v) sub-section (2) of section 194BA (of Income Tax Act, 1961) then, such person shall be liable to pay, by way of penalty, a sum equal to the amount of tax which such person failed to deduct or pay or ensure payment of, as aforesaid.
(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner.
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