| Section
along with relevant clauses |
Nature
of offence |
Authority
by whom leviable |
Min./max.
penalty prescribed |
| 1 |
2 |
3 |
4 |
| 271(1)(b) |
Failure
to comply with a notice u/s. 142(1) or 143(2) or a directionissued
under u/s. 142(2A) |
Assessing
Officer or Commissioner (Appeals) (CIT(A)) or Commissioner (CIT)
(w.e.f. 1-6-2002) |
Rs. 10,000/-
for each failure |
| 271(1)(c) |
Concealing
particulars of income or furnishing inaccurate particulars of such
income |
Assessing
Officer, CIT(A) or CIT (w.e.f. 1-6-2002) |
Min.
100% of tax payable Max. 300% of tax payable |
| 271A
|
Failure
to keep, maintain or retain books of accounts and documents as
required by section 44AA |
Assessing
Officer or CIT(A) |
Rs.
25,000/- |
| 271AA |
Failure
to keep and maintain information and documents required by section
92D (Transfer Pricing) |
Assessing
Officer or CIT(A) |
2% of
the value of each international transaction entered into by such
person |
| 271B |
Failure
to get accounts audited or furnish Tax Audit Report as required
u/s. 44AB |
Assessing
Officer |
0.5%
of total sales, turnover or gross receipts or Rs. 1,00,000, whichever
is less |
| 271BA |
Failure
to furnish a report u/s. 92E regarding international transactions
entered into by him |
Assessing
Officer |
Rs.
1,00,000 |
| 271C(1)(a) |
Failure
to deduct the whole or part of tax as required by or under the provisions
of Chapter XVII-B |
Joint
Commissioner |
Equal
to the amount of tax, which such person failed to deduct or pay |
| 271C(1)(b) |
Failure
to pay the whole or any part of tax as required by or under sub-
section (2) of section 115-O (tax on distributed profits of domestic
companies) or second proviso to section 194B (winnings from lottery
or crossword puzzle) |
Joint
Commissioner |
Equal
to the amount of tax, which such person failed to deduct or pay |
| 271D |
Accepting
or taking any loan or deposit in contravention of provisions of
section 269SS; i.e. acceptance of loan or deposit of Rs. 20,000/-
or more otherwise than by an account payee cheque or bank draft |
Joint
Commissioner |
A sum
equal to the amount of the loan or deposit so taken or accepted |
| 271E |
Repaying
any deposit in contravention of section 269T; i.e., repayment of
deposit of Rs. 20,000/- or more otherwise than by an account payee
cheque or bank draft |
Joint
Commissioner |
A sum
equal to the loan or deposit so repaid |
| 271F |
Failure
to furnish return under section 139(1) or under the provisos to
that section before the end of relevant assessment year |
Assessing
Officer |
Rs.
5,000/- |
| 271FA |
Failure
to furnish annual information return under section 285BA(1) within
the time prescribed (w.e.f. 1-4-2005) |
Income-tax
Authorities prescribed under that section |
Rs.
100/- for every day during which the failure continues |
| 271G |
Failure
to furnish information or document under section 92D (Transfer Pricing) |
Assessing
Officer or CIT(A) |
2% of
the value of international transaction for each such default |
| 272A(1) |
Failure
to answer questions , or sign statements, or attend summons u/s.
131(1) |
Joint
Director or Joint Commissioner |
Rs.
10,000/- for each failure or default |
| 272A(2)(a) |
Failure
to comply with notice issued under section 94(6) asking for details
regarding ownership/beneficial ownership of securities |
Income-tax
authority not lower in rank than a Joint Director or a Joint Commissioner |
Rs.
100/- for every day during which the failure continues |
| 272A(2)(b) |
Failure
to give notice of discontinuance of business or profession as required
by section 176(3) |
—do— |
Rs.
100/- for every day during which the failure continues |
| 272A(2)(c) |
Failure
to furnish in due time returns/ statements mentioned in sections
133 (information), 206 (TDS Return), 206C (TCS Return) or 285B (Statement
by producers of cinematograph films) |
—do— |
Rs.
100/- for every day during which the failure continues. However,
the amount of penalty shall not exceed the amount of tax deductible
or collectible |
| 272A(2)(d) |
Failure
to allow inspection of register referred to in section 134, etc. |
—do— |
Rs.
100/- for every day during which the failure continues |
| 272A(2)(e) |
Failure
to furnish return of income under sub-section (4A) or (4C) of section
139 |
—do— |
Rs.
100/- for every day during which the failure continues |
| 272A(2)(f)
|
Failure
to deliver declarations mentioned in section 197A |
—do— |
Rs.
100/- for every day during which the failure continues. However,
the amount of penalty shall not exceed the amount of tax deductible
|
| 272A(2)(g) |
Failure
to furnish a certificate as required under section 203 (TDS certificate)
or section 206C (TCS certificate) |
—do— |
Rs.
100/- for every day during which the failure continues. However,
the amount of penalty shall not exceed the amount of tax deductible |
| 272A(2)(h) |
Failure
to deduct or pay tax as required by section 226(2) |
—do— |
Rs.
100/- for every day during which the failure continues. |
| 272A(2)(i) |
Failure
to furnish a statement as required by section 192(2C) |
—do— |
Rs.
100/- for every day during which the failure continues. |
| 272A(2)(j) |
Failure
to deliver declarations mentioned in section 206C(1A) |
—do— |
Rs.
100/- for every day during which the failure continues. |
| 272A(2)(k) |
Failure
to deliver a statement specified under section 200(3) or proviso
to section 206C(3) |
—do— |
Rs.
100/- for every day during which the failure continues. |
| 272AA |
Failure
to comply with provisions of section 133B |
Joint
Commissioner, Assistant Director, Deputy Director or the Assessing
Officer |
Maximum
Rs.1,000/- |
| 272B |
Failure
to comply with the provision of section 139A (Permanent Account
Number) |
Assessing
Officer |
Rs.
10,000/- |
| 272BB |
Failure
to comply with provisions of section 203A (Tax Deduction Account
Number) |
Assessing
Officer |
Rs.
10,000/- |
| 272BBB |
Failure
to comply with provisions of section 206CA (Tax Collection Account
Number) (from June 1, 2002 to September 30, 2004) |
Assessing
Officer |
Rs.
10,000/- |
