List of General penalties under Income Tax Act
| Default | Penalty | Section |
| Non Payment | ||
| • Tax Payments including Self Assessment Tax | Upto tax in arrear | 221(1) |
| Failure to Comply | ||
| • With Notice U/S 143(2) | Rs. 10,000 for each failure | 271(1)(b) |
| • Failure to answer questions or sign statements | Rs. 10,000 for each failure | 272A(1) |
| Concealment | ||
| • Concealment of income or inaccurate | 100 to 300% of tax sought to | 271(1)(c) |
| particulars | be evaded | |
| • Undisclosed income during search in | 10% of undisclosed income | 271AAA |
| proceeding and current FY in which search | ||
| took place | ||
| Books, Audit, Loans | ||
| • Failure to keep, retain books U/S 44AA | Rs. 25000 | 271A |
| • Failure to get books audited U/S 44AB | 0.5% of gross sales Maximum | 271B |
| Rs 1.50 Lac | ||
| • Taking loan in contravention of Sec 269SS | Equal to amount of loan taken | 271D |
| • Repayment of loan in contravention of | Equal to amount of loan repaid | 271E |
| Sec 269T | ||
| • Failure to furnish return u/s 139(1) before | Rs. 5000 | 271F |
| end of AY | ||
| TDS | ||
| • Failure to deduct in part or full | Equal to tax not deducted | 271C |
| • Failure to collect tax in part or full | Equal to tax not collected | 271CA |
| • Quoting false TAN in challan / statements | Rs. 10000 | 272BB(1A) |
| • Failure to apply for TAN | Rs. 10000 | 272BB(1) |
| • Failure to furnish eTDS statement | Rs. 10000 to 1 lac | 271 H |
| • Failure to furnish TDS Certificate | Rs. 100 per day . Limited to | 272A(2) (g) |
| amount of TDS | ||
| . Failure to file TDS return (from 1st July 2012) |
Rs 200 per day limited to amount of TDs |
234E |
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