If any Indian concern which is required to furnish any information or document under section 506, fails to do so, the prescribed income-tax authorityunder the said section, may direct that such Indian concern shall pay by way of penalty, a sum of—(a) 2% of the value of the transaction in respect of which such failure […]

(1) If any reporting entity referred to in section 511, required to furnish the report referred to in sub-section (2) of the said section, for a reporting accountingyear, fails to do so, the prescribed authority under that section may impose on such entity, a penalty of—(a) five thousand rupees for every day for which the

If a person required to furnish statement under section 505, fails to do so within the period prescribed under that section, the Assessing Officer may impose on him, a penalty of— (a) one thousand rupees for every day for which the failure continues, if the period of failure does not exceed three months; or(b) one lakh

(1) Where a person, who is required to deliver or causes to be delivered a statement prescribed in section 397(3)(b), fails to do so within the time prescribedin the said section, or furnishes incorrect information in the said statement, the Assessing Officer may impose on such person, a penalty of a sum which shall notbe

If a person, who is required to furnish information under section 397 (3)(d), fails to furnish such information, or furnishes inaccurate information, the Assessing Officer may impose a penalty of one lakh rupees.

(1) Any accountant or merchant banker or registered valuer, shall be liable to pay a penalty of ten thousand rupees for any incorrect information in any report or certificate furnished under any provision of this Act or the rules made thereunder.(2) The penalty under sub-section (1) shall be payable in respect of each incorrect report

The Assessing Officer may impose a penalty which shall not be less than ten thousand rupees but which may extend up to one lakh rupees on—(a) the research association, University, college or other institution referred to in section 45, if it fails to deliver or furnish the documents as prescribed under section 45(4)(a); or(b) the

(1) A person shall be liable to pay a penalty of ten thousand rupees for each default or failure as mentioned below, if that person,—(a) being legally bound to state the truth of any matter touching the subject of his assessment, refuses to answer any question put to him by an income-tax authority in the

If a person fails to comply with the provisions of section 254, the Joint Commissioner, Deputy Director or Assistant Director or the Assessing Officer, may impose a penalty which may extend up to one thousand rupees on him.

(1) If a person fails to comply with the provisions of section 262, the Assessing Officer may impose a penalty of ten thousand rupees on him.(2) If a person, required to quote or intimate his permanent account number or Aadhaar number in any document as referred to in section 262(9)(a), provides or quotes or intimates