§ 447
Chapter XXI — Penalties
Penalty for failure to furnish report under section 172
Income-tax Act, 2025
Businesses that do not deduct tax at source as required under the Income-tax Act may face a penalty. The penalty is imposed when tax deduction is not made or is insufficient, and it is calculated based on the amount of tax that should have been deducted.
- Penalty amount is determined as per the provisions of the Act, typically a percentage of the tax shortfall.
- Applicable to all persons liable to deduct tax at source, including employers and other deductors.
📜 Official text of the section +
447. 11[***]
Penalty for failure to deduct tax at source.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.
Related sections
§ 439Penalty for under-reporting and misreporting of income§ 440[ (1) An assessee may make an application to the Assessing Officer to grant§ 441Failure to keep, maintain or retain books of account, documents, etc§ 442Penalty for Non‑Compliance with Transaction Reporting§ 443Penalty in respect of certain income§ 444Penalty for false entry, etc., in books of account