What is Penalty for failure to comply with the provisions of section 203A? Penalty for failure to comply with the provisions of section 206CA? Section 272BB and 272BBB of Income Tax Act 1961

Penalty for failure to comply with the provisions of section 203A and Penalty for failure to comply with the provisions of section 206CA are defined under section 272BB and 272BBB of Income Tax Act 1961. Provisions under these Sections are:

Section 272BB of Income Tax Act "Penalty for failure to comply with the provisions of section 203A"

Section 272BB. (1) If a person fails to comply with the provisions of section 203A, he shall, on an order passed by the Assessing Officer, pay, by way of penalty, a sum of ten thousand rupees.

1A) If a person who is required to quote his "tax deduction account number" or, as the case may be, "tax collection account number" or "tax deduction and collection account number" in the challans or certificates or statements or other documents referred to in sub-section (2) of section 203A, quotes a number which is false, and which he either knows or believes to be false or does not believe to be true, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees.

(2) No order under sub-section (1) or sub-section (1A) shall be passed unless the person on whom the penalty is proposed to be imposed is given an opportunity of being heard in the matter.

 

Section 272BBB of Income Tax Act "Penalty for failure to comply with the provisions of section 206CA"

Section 272BBB. (1) If a person fails to comply before the 1st day of October, 2004 with the provisions of section 206CA, he shall, on an order passed by the Assessing Officer, pay, by way of penalty, a sum of ten thousand rupees.

(2) No order under sub-section (1) shall be passed unless the person on whom the penalty is proposed to be imposed, is given an opportunity of being heard in the matter.

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