Penalty for failure to deduct tax at source

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....e] or any part of the tax as required by or under- (i) sub-section (2) of section 115-O; ^7[****] (ii) the ^5[****] proviso to section 194B, ^8[(iii) the first proviso to sub-section (1) of section 194R; or (iv) the proviso to sub-section (1) of section 194S; or] ^9[(v) sub-section (2) of section 194BA,] then, such person shall be liable to pay, by w....

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....liable to pay, by way of penalty, a sum equal to the amount of the tax which he failed to deduct as aforesaid." Earlier, Amended vide Section 44 of the Finance Act, 1990 w.e.f. 01-04-1990 3. Inserted vide Section 44 of the Finance Act, 1990 w.e.f. 01-04-1990 4. Substituted vide Section 3 of the Finance (No. 2) Act, 1998 w.e.f. 01-10-1998 before it was read as,....