Penalty for failure to pay tax in respect of Winning from Lottery or Crossword Puzzle

The section 194B provides that the person responsible for paying to any person any income by way of winnings from any lottery or crossword puzzle or card game and other game of any sort in an amount exceeding Rs.10,000 [ten thousand rupees], shall, at the time of payment thereof, deduct income-tax thereon at the rates in force.

Second proviso to section 194B provides that in a case where the winnings are wholly in kind or partly in cash and partly in kind but the part in cash is not sufficient to meet the liability of deduction of tax in respect of whole of the winnings, the person responsible for paying shall, before releasing the winnings, ensure that tax has been paid in respect of the winnings.

If any person fails to pay whole or part of the tax as required under second proviso to section 194B than, such person shall be liable to pay penalty of an amount equal to tax not paid as per section 271C.

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11.	Penalty for failure to deduct tax at source, wholly or partly or failure to pay wholly or partly tax under section 115-O(2)
12.	Penalty for failure to pay tax in respect of winning from lottery or crossword puzzle
13.	Penalty for failure to collect tax at source
14.	Penalty for Taking or accepting certain loans or deposits or specified sum in contravention of provisions of section 269SS
15.	Penalty for Repaying loans or deposits or specified advance in contravention of provisions of section 269T
16.	Penalty for Failure to furnish statement of financial transaction or reportable account (previously called as ‘Annual Information Return (AIR)’) as required under section 285BA(1)
17.	Penalty for furnishing inaccurate statement of financial transaction or reportable account
18.	Penalty for failure to furnish statement or information or document by an eligible investment fund.
19.	Penalty for Failure to furnish any information or document as required by section 92D(3)
20.	Penalty Section 271GB for failure to furnish report or for furnishing inaccurate report under Section 286
21.	Penalty for failure to furnish information or document under section 285A
22.	Penalty for failure to file the TDS/TCS return
23.	Penalty for failure to furnish information or furnishing inaccurate information under section 195
24.	Penalty for Failure to co-operate with the tax authorities
25.	Penalty under section 272A(2)
26.	Penalty for failure to comply with provisions of section 133B
27.	Penalty for Failure to comply with provisions of relating to Permanent Account Number (PAN)
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29.	Relaxation from penalty
30	[A] Types of Penalties imposed under Income Tax Act. 1961.
31	[B] Power to Reduce or Waive Penalty, etc. in certain cases (Section 273 A)
32	[C] Stay or Compounding proceedings [Section 273 A (4)]
33	[D] Procedure for imposing Penalty [Section 274]
34	[E] Time limits of commencement and completion of Penalty proceedings (Section 275)
35	[F] Power of Commissioner to Grant Immunity from Penalty [Section 273AA]
36	[G] Summary Of Provisions Relating To Penalties
37	[H] Important Notes on Penalty under Income Tax Act. 1961.

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Penalty for failure to pay tax in respect of Winning from Lottery or Crossword Puzzle

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