Incometax
Due Date of Filling of Return of Income
Status of Taxpayer

Any person (other than a company) whose accounts are to be audited under the Income-tax Law or under any other law.

Due date
September 30 of the assessment year

A working partner of a firm whose accounts are required to be audited under this Act or under any other law.

Due date
September 30 of the assessment year

Any company other than a company who is required to furnish a report in Form No. 3CEB under section 92E

Due date
September 30 of the assessment year

Any person (corporate/non-corporate) who is required to furnish a report in Form No. 3CEB under section 92E.

Due date
November 30 of the assessment year

Any other assessee

Due date
July 31 of the assessment year
Returns/Statements under Income Tax Act, 1961
Relevant Section of the Income Tax Act

200(3)

Prescribed Returns
Quarterly Statement of Tax Deducted at Source
  • -on salaries
  • -on other payments
Prescribed Form No.
  • 24Q
  • 26Q/27Q
Scheduled Time
  • (a) Quarter ending 30th June- On or before 15th July
  • (b) Quarter ending 30th September- On or before 15th October
  • (c) Quarter ending 31st December- On or before 15th January
  • (d) Quarter ending 31st March- On or before 15th May

206C(3)

Prescribed Returns
Quarterly Statement of Tax Collected at Source
Prescribed Form No.
  • 27EQ
Scheduled Time
  • (a) Quarter ending 30th June- On or before 15th July
  • (b) Quarter ending 30th September- On or before 15th October
  • (c) Quarter ending 31st December- On or before 15th January
  • (d) Quarter ending 31st March- On or before 15th May

203AA, 206(5)

Prescribed Returns
Annual Statement of Tax deducted at source or Tax Collected at Source
Prescribed Form No.
  • 26AS
Scheduled Time
31st July following the financial year during which taxes are deducted/collected/paid

206A(1)

Prescribed Returns
Quarterly Return in respect of payment of interest to residents without deduction of tax
Prescribed Form No.
  • 26QAA
Scheduled Time
  • (a) Quarter ending 30th June- On or before 31st July
  • (b) Quarter ending 30th September- On or before 31st October
  • (c) Quarter ending 31st December- On or before 31st January
  • (d) Quarter ending 31st March- On or before 30th June

195(6)

Prescribed Returns
Furnishing of information under section 195(6)
Prescribed Form No.
  • 15CA
  • 15CB
Scheduled Time
  • (a) No Data

285

Prescribed Returns
Annual Statement by a non-resident having liaison office in India
Prescribed Form No.
  • 49C
Scheduled Time
Within 60days from the end of relevant financial year

285BA

Prescribed Returns
Annual Information in respect of specified transactions
Prescribed Form No.
  • 61A
Scheduled Time
On or before 31st August succeeding the financial year

285B

Prescribed Returns
Form of Statement to be furnished by producer of films
Prescribed Form No.
  • 52A
Scheduled Time
Within 30days of completion of film, or 30th April, whichever is earlier.
Penalties Under Income Tax Act
Section

140A(3)

Nature of Default
Failure to pay wholly or partly-
  • Self Assessment Tax, or
  • Interest, or
  • Both
Penalty Leviable
Such amount as Assessing Officer may impose but not exceeding tax in arrears.

221(1)

Nature of Default
Default in making payment of tax
Penalty Leviable
Such amount as Assessing Officer may impose but not exceeding amount of tax in arrears

234E

Nature of Default
Failure to file statement within time prescribed in section 200(3) or in proviso to section 206C(3)
Penalty Leviable
Rs. 200 for every day during which failure continues but not exceeding tax deductible/collectible

271(1)(b)

Nature of Default
Failure to comply with a notice under section 115WD(2)/115WE(2)/142(1) or section 143(2) or failure to comply with a direction under section 142(2A)
Penalty Leviable
Fixed at Rs. 10,000 for each failure

271(1)(c)

Nature of Default
Concealment of particulars of income or fringe benefits or furnishing of inaccurate particulars of income or fringe benefits.
Penalty Leviable
Minimum : 100 per cent
Maximum : 300 per cent of tax sought to be evaded in addition to tax payable

271A

Nature of Default
Failure to keep, maintain, or retain books of account, documents, etc., as required under section 44AA
Penalty Leviable
Rs. 25,000

271B

Nature of Default
Failure to get accounts audited or furnish a report of audit as required under section 44AB
Penalty Leviable
One­half per cent of total sales, turnover or gross receipts, etc., or Rs. 1,50,000, which­ever is less

285C

Nature of Default
Failure to deduct tax at source, wholly or partly, under sections 192 to 196D(Chapter XVII-B) or failure to pay wholly or partly tax u/s 115-O(2) or second proviso to section 194B
Penalty Leviable
Amount equal to tax not deducted or paid

271CA

Nature of Default
Failure to collect tax at source as required under Chapter XVII­BB
Penalty Leviable
Amount equal to tax not collected

271D

Nature of Default
Taking or accepting certain loans and deposits [or specified sum, with effect from 1­6­2015] in contravention of provisions of section 269SS
Penalty Leviable
Amount equal to loan or deposit [or specified sum, with effect from 1­6­ 2015] taken or accepted

271E

Nature of Default
Repaying any loan or deposit [or specified advance, with effect from 1­6­2015] specified in section 269T in contravention of its provisions
Penalty Leviable
Amount equal to loan or deposit [or specified advance, with effect from 1­6­2015] repaid

271F

Nature of Default
Failure to furnish return as required by section 139(1) or by its provisos before the end of the relevant assessment year
Penalty Leviable
Rs. 5,000

272A(1)

Nature of Default
Refusal or failure to :
  • (A) Answer questions
  • (B) Sign statement
  • (C)Attend to give evidence or produce books of account, etc., in compliance with summon under Section 131(1)
Penalty Leviable
Rs. 10,000 for each failure/default

272AA(1)

Nature of Default
Failure to comply with section 133B
Penalty Leviable
Not exceeding Rs. 1,000

272B

Nature of Default
Failure to comply with the provisions of sections of 139A/139A(5)(c)/(5A)/(5C)
Penalty Leviable
Rs. 10,000

272BB(1)

Nature of Default
Failure to comply with section 203A
Penalty Leviable
Rs. 10,000 for each failure/default

272BB(1A)

Nature of Default
Quoting false tax deduction account number/tax collection account number/tax deduction and collection account number in challans/certificates/statements/documents referred to in section 203A(2)
Penalty Leviable
Rs. 10,000/-

271FA

Nature of Default

Failure to Furnish Statement of financial transaction or reportable account as required under section 285BA(1)

Failure to furnish Statement of financial transaction or reportable account within the period specified in notice u/s 285BA(5)

Penalty Leviable

Rs. 100 per day of default

Rs. 500 per day of default

158BFA(2)

Nature of Default
Determination of undisclosed income of block period
Penalty Leviable
Minimum : 100 per cent of tax leviable in respect of undisclosed income.
Maximum : 300 per cent of tax leviable in respect of undisclosed income.

271-I

Nature of Default
Failure to furnish information u/s 195(6) or furnishing inaccurate information
Penalty Leviable
Rs.100,000

271AAA

Nature of Default
Where search has been initiated before 172012 and undisclosed income found
Penalty Leviable
10% of undisclosed income

271AAB

Nature of Default
Where search has been initiated on or after 1-7-2012 and undisclosed income found
Penalty Leviable
  • (A) 10% of undisclosed income of the pecified previous year if assessee admits the undisclosed income; substantiates the manner in which it was derived; and on or before the specified date pays the tax, together with interest thereon and furnishes the return of income for the specified previous year declaring such undisclosed income;
  • (B) 20% of undisclosed income of the specified previous year if assessee does not admit the undisclosed income, and on or before the specified date declare such income in the return of income furnished for the specified previous year and pays the tax, together with interest thereon;
  • (C) Minimum 30% and maximum 90% of undisclosed income of the specified previous year if it is not covered by (a) or (b) above

271AA

Nature of Default
  • (1) Failure to keep and maintain information and documents required by section 92D(1) or 92D(2)
  • (2) Failure to report such transaction
  • (3) Maintaining or furnishing incorrect information or document
Penalty Leviable
2% of value of each international transaction/or specified domestic transaction entered into

271BA

Nature of Default
Failure to furnish a report from an accountant as required by section 92E
Penalty Leviable
Rs. 1,00,000

271G

Nature of Default
Failure to furnish any information or document as required by section 92D(3)
Penalty Leviable
2% of the value of the international transaction/specified domestic transaction for each failure
Note : No penalty is imposable for any failure under sections 271(1)(b), 271A, 271AA, 271B, 271BA, 271C, 271CA, 271D, 271E, 271F, 271FA, 271FAB, 271FB, 271G, 271GA, 271GB (w.e.f. assessment year 2017­18), 271H, 271­I, 272A(1)(c) or (d), 272A(2), 272AA(1), 272B, 272BB(1), 272BB(1A) and 272BBB if the person or assessee proves that there was reasonable cause for such failure (section 273B).
OFFENCES AND PROSECUTIONS
Section

275A

Nature of default
Contravention of order made under section 132(1) (Second Proviso) or 132(3) in case of search and seizure
Punishment (rigorous imprisonment)
Up to 2 years
Fine
No limit

275B

Nature of default
Failure to afford necessary facility to authorised officer to inspect books of account or other documents as required under section 132(1)(iib)
Punishment (rigorous imprisonment)
Up to 2 years
Fine
No limit

276

Nature of default
Removal, concealment, transfer or delivery of property to thwart tax recovery
Punishment (rigorous imprisonment)
Up to 2 years
Fine
No limit

276A

Nature of default
Failure to comply with provisions of section 178(1) and (3) re : company in liquidation
Punishment (rigorous imprisonment)
6 months to 2 years
Fine
No Data

276AB

Nature of default
Failure to comply with provisions of sections 269UC, 269UE and 269UL re : purchase of properties by Government1
Punishment (rigorous imprisonment)
6 months to 2 years
Fine
No limit

276B

Nature of default
Failure to pay to credit of Central Government
  • (a) tax deducted at source under Chapter XVII-B (non-cognizable offence under section 279A), or
  • (b) tax payable u/s 115-O(2) or second proviso to section 194B
Punishment (rigorous imprisonment)
3 months to 7 years
Fine
No limit

276BB

Nature of default
Failure to pay the tax collected under the provisions of section 206C
Punishment (rigorous imprisonment)
3 months to 7 years
Fine
No limit

276C(1)

Nature of default
Wilful attempt to evade tax, penalty or interest (non-cognizable offence under section 279A)—
  • (a) where tax sought to be evaded exceeds Rs. 25 lakh
  • (b) in other cases
Punishment (rigorous imprisonment)

6 months to 7 years

3 months to 2 years

Fine

No limit

No limit

276C(2)

Nature of default
Wilful attempt to evade payment of any tax, penalty or interest (non-cognizable offence under section 279A)
Punishment (rigorous imprisonment)
3 months to 2 years
Fine
No limit

276CC

Nature of default
Wilful failure to furnish returns of fringe benefits under section 115WD/115WH or return of income under section 139(1) or in response to notice under section 142(1)(i) or section 148 or section 153A (non-cognizable offence under section 279A)—
  • (a) where tax sought to be evaded exceeds Rs. 25 lakh
  • (b) in other cases
Punishment (rigorous imprisonment)

6 months to 7 years

3 months to 2 years

Fine

No limit

No limit

276CCC

Nature of default
Wilful failure to furnish in due time return of total income required to be furnished by notice u/s 158BC(a)
Punishment (rigorous imprisonment)
3 months to 3 years
Fine
No limit

276D

Nature of default
Wilful failure to produce accounts and documents under section 142(1) or to comply with a notice under section 142(2A)
Punishment (rigorous imprisonment)
Up to 1 year
Fine
No limit

277

Nature of default
False statement in verification or delivery of false account, etc. (non-cognizable offence under section 279A)
  • (a) where tax sought to be evaded exceeds Rs. 25 lakh
  • (b) in other cases
Punishment (rigorous imprisonment)

6 months to 7 years

3 months to 2 years

Fine

No limit

No limit

277A

Nature of default
Falsification of books of account or document, etc., to enable any other person to evade any tax, penalty or interest chargeable/leviable under the Act
Punishment (rigorous imprisonment)
3 months to 2 years
Fine
No limit

278

Nature of default
Abetment of false return, account, statement or declaration relating to any income or fringe benefits chargeable to tax (non-cognizable offence under section 279A)
  • (a) where tax, penalty or interest sought to be evaded exceeds Rs. 25 lakh
  • (b) in other cases
Punishment (rigorous imprisonment)

6 months to 7 years

3 months to 2 years

Fine

No limit

No limit

278A

Nature of default
Second and subsequent offences under section 276B, 276C(1), 276CC, 277 or 278
Punishment (rigorous imprisonment)
6 months to 7 years
Fine
No limit

280(1)

Nature of default
Disclosure of particulars by public servants in contravention of section 138(2) [Prosecution to be instituted with previous sanction of Central Government under section 280(2)]
Punishment (rigorous imprisonment)
Up to 6 months (simple/rigorous)
Fine
No limit
Notes
1 -
No person is punishable for any failure under section 276A, 276AB or 276B if he proves that there was reasonable cause for such failure (vide section 278AA).
2 -

(A) Prosecution for offences under section 275A, section 275B, section 276, section 276A, section 276B, section 276BB, section 276C, section 276CC, section 276D, section 277, section 277A and section 278 to be instituted with previous sanction of Principal Director General/Principal Chief Commissioner/Principal Commissioner/Director General/Chief Commissioner/Commissioner, except where prosecution is at the instance of the Commissioner (Appeals) or the appropriate authority (vide section 279).

(B) The offences under Chapter XXII can be compounded (either before or after the institution of proceedings) by Principal Director General/Director General or Principal Chief Commissioner/Chief Commissioner.

3 -

Where an offence under this Act has been committed by a person, being a company, and the punishment for such offence is imprisonment and fine, then, such company shall be punished with fine and every person, referred to in sub-section

(A) of section 278B, or the director, manager, secretary or other officer of the company referred to in sub-section

(B)of section 278B shall be liable to be proceeded against and punished in accordance with the provisions of this Act.

4 -
Under section 278AB a person may apply to the Principal Commissioner/Commissioner for granting immunity from prosecution, if he has applied for settlement under section 245C and the proceedings have abated under section 245HA. The application shall not be made after institution of prosecution proceedings after abatement.
5 -
With effect from 1-4-2017 the prosecution proceeding shall not be proceeded against a person for offences under section 276C or section 277 in respect of whom penalty under section 270A has also been reduced or waived under section 273A.