| 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/- |
