Penalty for failure to collect tax at source
[As per the Income Tax Act, 2025 (this Act) w.e.f. 1st April, 2026.]
Section 449(1) of Income Tax Act 2025
(1) If any person fails to collect the whole or in part, the tax as required under Chapter XIX-B, the Assessing Officer may impose on him, a penalty equal to the tax which such person failed to collect.