If any person fails to collect whole or any part of tax collectible, penalty equal to the amount of such tax which he failed to collect will be leviable. Such penalty imposable shall be imposed by the Joint Commissioner, Income tax.
| Section | Nature of default | Minimum penalty | Maximum penalty |
| (1) | (2) | (3) | (4) |
| 271CA | Penalty for failure to collect tax at source (from April 1,2007) | Amount of tax which a person has failed to collect | Amount of tax which a person has failed to collect |
Reference:
Section 271CA, of Income tax act, 1961-
Penalty for failure to collect tax at source u/s 271CA
(1) If any person fails to collect the whole or any part of the tax as required by or under the provisions of Chapter XVII-BB, then, such person shall be liable to pay, by way of penalty, a sum equal to the amount of tax which such person failed to collect as aforesaid.
(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner.