Lawgist15Penalty for failure to collect or pay expenditure-tax
1 [15. Penalty for failure to collect or pay expenditure-tax.--Any person responsible for collecting expenditure-tax in accordance with the provisions of sub-section (1) or sub-section (2) of section 7, who--
(a) fails to collect such tax; or
(b) having collected the tax, fails to pay such tax to the credit of the Central Government in accordance with the provisions of sub-section (3) of that section,
shall pay,--
(i) in the case referred to in clause (a), in addition to paying tax in accordance with the provisions of sub-section (4) of that section, by way of penalty, a sum equal to the amount of tax that he failed to collect; and
(ii) in the case referred to in clause (b), in addition to paying interest in accordance with the provisions of section 14, by way of penalty, a sum which shall not be less than one hundred rupees but which may extend to two hundred rupees for every day during which the failure continues, so, however, that the penalty under this clause shall not exceed the amount of tax that he failed to pay.]
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1. Subs. by Act 49 of 1991, s. 117, for section 15 (w.e.f. 1-10-1991).
- 1 Short title, extent and commencement
- 2 Definitions
- 3 Application of the Act
- 4 Charge of expenditure-tax
- 5 Meaning of chargeable expenditure
- 6 Tax authorities
- 7 Collection and recovery of expenditure-tax
- 8 Person responsible for collecting tax to furnish prescribed return
- 9 Assessment
- 10 Best judgment assessment
- 11 Chargeable expenditure escaping assessment
- 12 Rectification of mistake
- 13 Time limit for completion of assessment and reassessment
- 14 Interest on delayed payment of expenditure-tax
- 15 Penalty for failure to collect or pay expenditure-tax
- 16 Penalty for failure to furnish prescribed return
- 17 Penalty for concealment of chargeable expenditure
- 18 Penalty for failure to comply with notice
- 19 Penalty not to be imposed in certain cases
- 20 Notice of demand
- 21 Revision of orders by the Commissioner
- 22 Appeals to the Commissioner (Appeals)
- 23 Appeals to Appellate Tribunal
- 24 Application of provisions of Income-tax Act
- 25 Wilful attempt to evade tax, etc
- 26 Failure to furnish prescribed returns
- 27 False statement in verification, etc
- 28 Abetment of false return, etc
- 29 Certain offences to be non-cognizable
- 30 Institution of proceedings and composition of offences
- 31 Power to make rules
- 32 Power to remove difficulties
- 33 Repealed
