Penalty on short deduction of TDS U/s 194IC

Nitesh (PROP.) (35 Points)

04 May 2020  
One person has deposited TDS @ 1% u/s 194IA on the payment of cash for Joint development agreement.

He has to deposited TDS @ 10% u/s 194IC for the consideration under joint development.

Plz suggest what penalty/interest may be imposed on assessee