Section 449 — Penalty for failure to collect tax at source
Old Act equivalent: Section 271CA of IT Act 1961 Sub-part: A—Penalties
Statutory Text
- If any person fails to collect the whole or any part of the tax as required under Chapter XIX-B, the Assessing Officer may impose on him, a penalty equal to the tax which such person failed to collect. Penalty for failure to comply with provisions of section 185.
Provisos
None.
Explanations
None.
Tables
None.
Key Structure
- Applies to: Person who fails to collect tax at source as required under section 396.
- Conditions: Failure to collect whole or any part of TCS.
- Time limits: None specified.
- Monetary limits: Sum equal to the amount of tax not collected.
- Exceptions: Penalty imposable by Joint Commissioner (Appeals) or Commissioner (Appeals).
Cross-References
- Section 185
Amendment Notes
None noted from the extracted pages.