Section 448
Penalty for failure to deduct tax at source.
About this Act
An Act to consolidate and amend the law relating to income-tax.
If any person fails to—
(a) deduct the whole or any part of the tax as required under Chapter XIX-B; or
(b) pay or ensure the payment of, the whole or any part of the tax as required by or under—
(i) Note 2 below the Table in section 393(3); or
(ii) Note 6 to section 393(1) (Table: Sl. No. 8), then, the Assessing Officer may impose on him, a penalty equal to the tax which such person failed to deduct or pay or ensure payment of, as aforesaid.
(a) deduct the whole or any part of the tax as required under Chapter XIX-B; or
(b) pay or ensure the payment of, the whole or any part of the tax as required by or under—
(i) Note 2 below the Table in section 393(3); or
(ii) Note 6 to section 393(1) (Table: Sl. No. 8), then, the Assessing Officer may impose on him, a penalty equal to the tax which such person failed to deduct or pay or ensure payment of, as aforesaid.