PENALTIES OF INCOME TAX IN TABULAR FORM [AY 2014–15 & AY 2015–16]

(a) self-assess­ment tax/fringe ben­e­fit tax, or

(b) inter­est, or

(c) both

under sec­tion 140A(1)

block peri­od

Max­i­mum: 300 per cent of tax levi­able in respect of undis­closed income.

pre­scribed in sec­tion 200(3) or in proviso

to sec­tion 206C(3)

sec­tion 115WD(2)/115WE(2)/142(1) or

sec­tion 143(2) or fail­ure to com­ply with a

direc­tion under sec­tion 142(2A)

fringe ben­e­fits or fur­nish­ing of inaccurate

par­tic­u­lars of income or fringe benefits

Max­i­mum : 300 per cent of tax sought to be evad­ed in addi­tion to tax payable

oth­er­wise than in accor­dance with

part­ner­ship deed and as a result of which

part­ner has returned income below the

real income

of account, doc­u­ments, etc., as required

under sec­tion 44AA

infor­ma­tion and doc­u­ments required by

sec­tion 92D(1) or 92D(2)

(2) Fail­ure to report such transaction

(3) Main­tain­ing or fur­nish­ing incorrect

infor­ma­tion or document

1–7‑2012 and undis­closed income found

after 1–7‑2012 and undis­closed income

found

return of income for the spec­i­fied pre­vi­ous year declar­ing such undis­closed income

(b) 20% of undis­closed income of the spec­i­fied pre­vi­ous year if assessee does not admit the undis­closed income, and on or before the specified

date declare such income in the return of income fur­nished for the spec­i­fied pre­vi­ous year and pays the

tax, togeth­er with inter­est thereon;

(c) Min­i­mum 30% and max­i­mum 90% of undis­closed income of the spec­i­fied pre­vi­ous year if it is not

cov­ered by (a) or (b) above

a report of audit as required under

sec­tion 44AB

accoun­tant as required by sec­tion 92E

issued under scheme referred to in

sec­tion 88A(1)

part­ly, under sec­tions 192 to 196D

(Chap­ter XVII‑B) or fail­ure to pay

whol­ly or part­ly tax u/s 115‑O(2) or

sec­ond pro­vi­so to sec­tion 194B

deposits in con­tra­ven­tion of pro­vi­sions of

sec­tion 269SS

sec­tion 269T in con­tra­ven­tion of its

pro­vi­sions

sec­tion 139(1) or by its pro­vi­sos before

the end of the rel­e­vant assess­ment year

return as required under section

285BA(1) (see Note 2)

Fail­ure to fur­nish annu­al information

return with­in the peri­od spec­i­fied in notice

u/s 285BA

Rs. 500 per day of default

return of fringe ben­e­fits as required under

sec­tion 115WD(1)

doc­u­ment as required by sec­tion 92D(3)

transaction/specified domes­tic trans­ac­tion for each failure

state­ment with­in the time pre­scribed in

sec­tion 200(3) or the pro­vi­so to section

206C(3), or fur­nish­es incorrect

infor­ma­tion in the statement

(a) answer questions

(b) sign statement

(c) attend to give evi­dence or produce

books of account, etc., in com­pli­ance with sum­mons under sec­tion 131(1)

(a)    fur­nish req­ui­site infor­ma­tion in respect of secu­ri­ties as required under sec­tion 94(6)

(b)    give notice of dis­con­tin­u­ance of

busi­ness or pro­fes­sion as required under sec­tion 176(3)

(c) fur­nish in due time returns, state­ments or cer­tifi­cates, deliver

de-cla­ra­tion, allow inspec­tion, etc., under sec­tions 133, 134, 139(4A), 139(4C), 192(2C), 197A, 203, 206, 206C, 206C(1A) and 285B;

(d) deduct and pay tax under section

226(2)

(e) file a copy of the prescribed

state­ment with­in the time specified

in sec­tion 200(3) or the pro­vi­so to

sec­tion 206C(3) (up to 1–7‑2012)

(f) file the pre­scribed state­ment within

the time spec­i­fied in sec­tion 206A(1)

by sec­tion 203 and returns u/ss 206 and 206C and state­ments under sec­tion 200(3) or pro­vi­so to sec­tion 206C(3), penal­ty shall not exceed amount of tax deductible or collectible)

sec­tion 139A/139A(5)(c)/(5A)/(5C)

number/tax col­lec­tion account number/tax

deduc­tion and col­lec­tion account number

in challans/certificates/statements/documents

referred to in sec­tion 203A(2)