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<h1>Comprehensive Guide to Income Tax Penalties: Fixed and Percentage-Based Consequences for Non-Compliance Under Various Sections</h1> This chart provides a comprehensive overview of income tax penalties under various sections of the Income Tax Act. It details specific defaults, corresponding penalty amounts, and responsible authorities for levy. Penalties range from fixed amounts (Rs. 10,000-5,00,000) to percentage-based calculations (10%-200% of undisclosed income or transaction value). Common violations include failure to maintain proper books, non-reporting of transactions, false entries, TDS/TCS defaults, and non-compliance with documentation requirements. The chart also specifies time-sensitive penalties that increase with continued non-compliance and notes exceptions where penalties may be waived under certain conditions.
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