Penalty and Prosecution for failure to collect tax at source [ Section 271CA and section 276BB ]

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....applies to defaults occurring on or after that date. The amendment by the Finance Act, 2025, shifting the authority to the Assessing Officer, is prospective and applies to penalties imposed on or after April 1, 2025, regardless of the period of default. This distinction is important for determining the competent authority in ongoing or future proceedings. • If any person who is requir....

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....Impose Penalty • From 01-04-2025 - any penalty under sub-section (1), on or after the 1st day of April, 2025, shall be imposed by the Assessing Officer. [ Inserted vide Section 83 of the Finance Act, 2025 ] • Upto 31.03.2025 - Originally, the power to impose a penalty u/s 271CA was vested in the Joint Commissioner of Income-tax.  ....

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.... time prescribed for filing the statement under the proviso to section 206C(3) in respect of such payment. Upto 31.03.2026 • If a person fails to pay to the credit of the Central Government, the tax collected by him as required under the provisions of section 206C, he shall be punishable with rigorous imprisonment for a term which shall not be less than three months but which may e....