Section 271H of Income Tax Act "Penalty for failure to furnish statements, etc."
271H. (1) Without prejudice to the provisions of the Act,
the Assessing Officer may direct that a person shall pay by
way of penalty, if, he-
(a) fails to deliver or cause to be delivered a statement
within the time prescribed in sub-section (3) of section 200
or the proviso to sub-section (3) of section 206C; or
(b) furnishes incorrect information in the statement which
is required to be delivered or caused to be delivered under
sub-section (3) of section 200 or the proviso to sub-section
(3) of section 206C.
(2) The penalty referred to in sub-section (1) shall be a
sum which shall not be less than ten thousand rupees but
which may extend to one lakh rupees.
(3) Notwithstanding anything contained in the foregoing
provisions of this section, no penalty shall be levied for
the failure referred to in clause (a) of sub-section (1), if
the person proves that after paying tax deducted or
collected along with the fee and interest, if any, to the
credit of the Central Government, he had delivered or cause
to be delivered the statement referred to in sub-section (3)
of section 200 or the proviso to sub-section (3) of section
206C before the expiry of a period of one year from the time
prescribed for delivering or causing to be delivered such
statement.
(4) The provisions of this section shall apply to a
statement referred to in sub-section (3) of section 200 or
the proviso to sub-section (3) of section 206C which is to
be delivered or caused to be delivered for tax deducted at
source or tax collected at source, as the case may be, on or
after the 1st day of July, 2012.
271-I. If a person, who is required to furnish information under sub-section (6) of section 195, fails to furnish such information, or furnishes inaccurate information, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of one lakh rupees.