| Default/ Failure |
Section
|
Nature of Demand |
Quantum of demand or penalty |
| Failure to deduct tax at source |
201(1) |
Tax demand |
Equal to tax amount deductible but not deducted |
| 201(1A) |
Interest |
@1 % p.m. of tax deductible |
| 271C |
Penalty |
Equal amount of tax deductible but not deducted |
| Failure to deposit tax at source |
201(1) |
Tax demand |
Equal to tax amount not deposited |
| |
201(1A) |
Interest |
@1.5% p.m. of tax not deducted |
| |
276B |
Prosecution |
Rigorous imprisonment for a term for a minimum of 3 months which may extend to 7 years and with fine |
| Failure to apply for TAN No. u/s 203A |
272BB |
Penalty |
Rs. 10000 |
| Failure to furnish prescribed statements u/s 200(3) |
272A(2)(k) |
Penalty |
Rs. 100 every day during which the failure continues subject to maximum of TDS amount |
| Failure to issue TDS certificate u/s 203 |
272(A)(g) |
Penalty |
Rs. 100 every day during which the failure continues subject to maximum of TDS amount. |
| Failure to furnish statement of perquisite or profit in lieu of salary u/s 192(2C) |
272(A)(i) |
Penalty |
Rs. 100 every day during which the failure continues subject to maximum of TDS amount |
| Failure to mention PAN of the deductee in the TDS statements and certificates |
272B |
Penalty |
Rs. 10000 |
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