|Section||Nature of Default||Quantum of penalty|
Failure to pay the taxes within due dates
|221(1)||Tax payments including Self-Assessment Tax||Amount of tax in arrears|
|271(1)(b)||with the notice u/S 115WD(2)/ 115WE(2)/ 143(1)/ 142(2)||Rs. 10,000 of each failure|
|271(1)(b)||with direction u/s 142(2A) to get audited||Rs. 10,000 of each failure|
|272A (1)||Failure to answer questions or sign statements||Rs. 10,000 of each failure|
Concealment or Inaccurate particulars of information
|271(1)(c)||Concealment of income or inaccurate particulars||100 % to 300 % of tax sought to be evaded|
|271AAA||Undisclosed income found during search intimation u/s 132||10% of undisclosed income|
Non-fulfillment of Audit, Books of Accounts or Loans
|271A||Failure to maintain books or documents u/s. 44AA.||Rs. 25,000|
|271B||Failure to get accounts audited u/s. 44AB.||0.5% of total sales, or Rs.1,50,000 whichever is less|
|271D||Taking loan in contravention of Sec. 269SS||Equal to amount of loan taken|
|271E||Repayment of loan in contravention of Sec. 269T||Amount of deposit or repaid|
|271F||Failure to furnish Return of Income||Rs. 5,000|
Cross Border transactions
|271AA||Failure to keep and maintain information and documents u/s. 92D.||2% of value|
|271BA||Failure to furnish a report as required u/s. 92E.||Rs. 1,00,000|
Non-Compliance related to TDS
|271C||Failure to deduct TDS in full and part||Equal to the amount failed to be deducted|
|271CA||Failure to collect TDS in full and part||Equal to the amount failed to be collected|
|272BB(1A)||Quoting false TAN in challan/ statements||Rs. 10,000|
|272BB(1)||Failure to apply for TAN||Rs. 10,000|
|271H||Failure to furnish e TDS statement||Rs 10,000 to 1 lacks|
|272A(2)g)||Failure to furnish TDS certificate||Rs 100 per day .|
|272A(2)||Failure to comply with department letter||Rs. 100 for every day during which the failure continues|
|272AA(1)||Failure to furnish information required u/s. 133B||Rs. 1,000|
|272B||Failure to apply for Permanent Account Number (PAN)||Rs. 10,000|
|272BBB||Failure to apply for Tax Collection Account No. (TCN)||Rs. 10,000|
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