Failure to collect tax at source may attract a penalty equal to the uncollected tax under the withholding framework. Clause 449 provides that if a person fails to collect, wholly or partly, the tax required under the withholding provisions, the Assessing Officer may ... Summary
Failure to collect tax at source may attract a penalty equal to the uncollected tax under the withholding framework.
Clause 449 provides that if a person fails to collect, wholly or partly, the tax required under the withholding provisions, the Assessing Officer may impose a penalty equal to the tax which the person failed to collect.
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