|
Section
|
Nature of Default
|
Basis of Charge
|
Quantum of Penalty
|
|
221(1)
|
Failure to pay tax; i.e., non-payment of tax
required by notice u/s. 156
|
—
|
Not to exceed total amount of tax in
arrears
|
|
271(1)(b)
|
Non-compliance with notice u/s. 142(1) or sec.
115WD(2) to file return of income or return of fringe benefits or to produce
documents required by assessing officer u/s. 143(2) or 115WE(2) or to produce
evidence on which assessee relies or u/s. 142(2A) to get accounts
audited
|
—
|
` 10,000 for each failure in addition to tax, if any, payable
|
|
271(1)(c), 271(1)(d)
|
Concealment of particulars of income or
particulars of fringe benefits, or furnishing inaccurate particulars
thereof.
|
Tax sought to be evaded
|
Minimum – Amount of tax sought to be
evaded maximum – 3 times the minimum – in addition to tax, if any,
payable
|
|
271A
|
Failure to keep, maintain or retain books or
documents u/s. 44AA
|
—
|
`25,000
|
|
271AA
|
Failure to keep and maintain information and
documents u/s. 92D, failure to report transactions and maintaining or furnishing
of incorrect information/document
|
International transaction or specified domestic
transactions
|
2% of value of each International transaction
or specified domestic transactions
|
|
271AAA
|
Search under section 132 before 30th June,
2012
|
Undisclosed income of the specified previous
year
|
10% of undisclosed income
|
|
271AAB
|
Search under section 132 on or after 1st July,
2012
|
— Undisclosed income of the specified
previous year, and assessee admits during the search and satisfies other
conditions;
|
— 10% of undisclosed income
|
|
|
— Undisclosed income of the specified
previous year, and assessee admits in the return of income filed after the
search and satisfies other condtions;
|
— 20% of undisclosed income
|
|
|
— not covered by either of the above
situations
|
— 30 to 90% of undisclosed
income
|
|
271B
|
Failure to get accounts audited or furnish Tax
Audit Report as required u/s. 44AB
|
Total Sales, Turnover, or Gross
Receipts
|
0.5% of total sales, turnover or gross receipts
or ` 1,50,000
whichever is less
|
|
271BA
|
Failure to furnish a report as required u/s.
92E
|
—
|
` 1,00,000
|
|
271C
|
Failure to deduct the whole or part of the tax
as required by or under Chapter XVII-B (Ss. 192 to 196D) or failure to pay the
whole or part of tax u/s. 115-O, or second proviso to sec. 194B
|
Amount of tax not deducted/paid
|
Equal to the amount of tax failed to be
deducted/paid
|
|
271CA
|
Failure to collect whole or part of tax as
required by or under Chapter XVIIBB (Section 206C)
|
Amount of tax not collected
|
Equal to the amount of tax the person has
failed to collect
|
|
271D
|
Contravention of the provisions of S. 269SS;
i.e., by taking or accepting any loan or deposit otherwise than by modes
specified therein
|
Amount of loan or deposit so taken or
accepted
|
Equal to the amount of loan or deposit so taken
or accepted
|
|
271E
|
Contravention of S. 269T; i.e., repayment of
any loan or deposit otherwise than by modes specified therein
|
Amount of deposit so repaid
|
Equal to the amount of loan or deposit so
repaid
|
|
271F
|
Failure to furnish Return of Income u/s 139(1)
before the end of the relevant Assessment Year
|
—
|
` 5,000
|
|
271FA
|
Failure to furnish Annual Information Return
under section 285BA(1)
|
—
|
` 100 for every day during which the failure continues
|
|
271FA
|
Failure to furnish annual information return
within the period specified in the notice issued under section
285BA(5)
|
—
|
` 500 for every day during which the failure continues, beginning from the day
immediately following the day on which the time specified in such notice for
furnishing the return expires
|
|
271FB
|
Failure to furnish Return of Fringe Benefit
under section 115WD(1)
|
—
|
` 100 for every day during which the failure continues
|
|
271G
|
Failure to furnish information or document u/s.
92D(3)
|
International transactions or specified
Domestic transaction
|
2% of value of International transaction or
specified domestic transaction for each such default
|
|
271H
|
Failure to furnish TDS statements by due date
or furnishing incorrect information in the TDS statement (With effect from July
1, 2012)
|
—
|
From ` 10,000 to
` 100,000.
|
|
272A(1)
|
Failure to answer questions, sign statements,
attend summons u/s. 131(1)
|
—
|
` 10,000 for each failure
|
|
272A(2)
|
Failure to:
1. Comply with notice u/s. 94(6)
– furnishing information regarding securities
2. Give notice of discontinuance of
business — S. 176(3)
3. Furnish in due time returns,
statements, or particulars u/s. 133, 206 or 285B
4. Allow inspection of any register(s)
— S. 134
5. Furnish returns u/s. 139(4A) or
139(4C)
6. Deliver in due time a declaration
mentioned in S. 197A
7. Furnish a certificate u/s.
203.
8. Deduct and pay tax u/s.
226(2).
9. Furnish
returns/statements/certificate u/s. 206C.
10. Furnish a statement of particulars
of perquisites and profits in lieu of salary u/s. 192(2C)
11. Deliver in due time a declaration
referred to in section 206C(1A)
12. Deliver in due time, quarterly
return specified in section 206A(1)
|
—
|
` 100 for every day during which the failure continues. However, amount of
penalty for point Nos. 3, 6, 7 and 9 shall not exceed amount of tax deductible or
collectible
|
|
272AA
|
Failure to furnish the prescribed information
required u/s. 133B (Refer to Form No. 45D)
|
—
|
Up to ` 1,000
|
|
272B
|
Failure to obtain PAN or quote PAN or intimate
false PAN
|
—
|
` 10,000
|
|
272BB
|
Failure to apply for Tax Deduction Account
Number (TAN) (S. 203A)
|
—
|
` 10,000
|
|
272BB(1A)
|
Failure to quote Tax Deduction/Collection
Account Number or quoting of false number in challans, certificates, statements
or other documents referred to in section 203A(2)
|
|
` 10,000
|
