Clause 448 of Income Tax Bill 2025 imposes penalties equal to unpaid TDS, replacing Section 271C provisions

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....Clause 448 of the Income Tax Bill, 2025, establishes a penalty equal to the amount of tax not deducted or paid for failures related to tax deduction at source (TDS), replacing and consolidating provisions under Section 271C of the Income-tax Act, 1961. It applies to failures to deduct tax under Chapter XIX-B or to pay or ensure payment as specified in certain notes of the Bill. The penalty is imposed by the Assessing Officer, who has discretionary power, though the clause lacks explicit reference to a "reasonable cause" defense available under the current law. Compared to Section 271C, Clause 448 streamlines scope through broader chapter references and tables, potentially increasing administrative efficiency but raising concerns about inter.........