Penalty for failure to deduct tax at source.
Penalty for failure to deduct tax at source.
448. If any person fails to—
| (a) | deduct the whole or any part of the tax as required under Chapter XIX-B; or | |
| (b) | pay or ensure the payment of, the whole or any part of the tax as required by or under— |
| (i) | Note 2 below the Table in section 393(3); or | |
| (ii) | Note 6 to section 393(1) (Table: Sl. No. 8), |
then, the Assessing Officer may impose on him, a penalty equal to the tax which such person failed to deduct or pay or ensure payment of, as aforesaid.