Section 271CCentral Act

Section 271C: [ Penalty for failure to deduct tax at source. [ Inserted by Act 4 of 1988, Section 108 (w.e.f. 1.4.1989).]

The Income-tax Act, 1961

[ Penalty for failure to deduct tax at source. [ Inserted by Act 4 of 1988, Section 108 (w.e.f. 1.4.1989).]

(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 the whole or any part of the tax as required by or under,-

(i)sub-section (2) of section 115-O; or

(ii)The proviso to section 194-B, 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 as aforesaid.]

(2)

[ Any penalty imposable under sub-section (1) shall be imposed by the ] [ Inserted by Act 12 of 1990, Section 44 (w.r.e.f. 1.4.1990).][Joint Commissioner] [ Substituted by Act 21 of 1998, Section 3, for " Deputy Commissioner" (w.e.f. 1.10.1998).].

Sec 271BB — [ Failure to subscribe to the eligible issue of capital. [Inserted by Act 12 of 1990, Section 43 (w.r.e.f. 1.4.1990).]

Sec 271CA — [ Penalty for failure to collect tax at source. [ Inserted by Act 21 of 2006, Section 52 (w.e.f. 1.4.2007).]

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