Penalty for Failure to comply with provisions of relating to Permanent Account Number (PAN)

272B provides penalty in case of default by the taxpayer in complying with the provisions of section 139A or knowingly quoting incorrect PAN in any document referred to in section 139A(5)(c) or intimates incorrect PAN for the purpose of section 139A (5A)/(5C).

1. Section 139A provides various provisions relating to obtaining of PAN and quoting of PAN by the taxpayer.

2. Section 139A(5)(c) provides for quoting of PAN by the taxpayer in certain prescribed financial transactions.

3. Section 139A(5A) provides for intimating PAN by the taxpayer to the person deducting tax at source (i.e. TDS).

4. Section 139A(5C) provides for intimating PAN by the taxpayer to the person collecting tax at source (i.e. TCS).

Penalty under section 272B is Rs. 10,000.

More Topics ....
1.	Penalty for default in making payment of Self Assessment Tax
2.	Penalty for default in making payment of Tax
3.	Penalty for Late filing fees for delay in filing the TDS/TCS statement
4.	Penalty for failure to comply with notice issued under section 142(1) or 143(2) or direction for audit under section 142(2A)
5.	Penalty for underreporting and misreporting of income
6.	Penalty for failure to keep, maintain, or retain books of account, documents, etc., as required under section 44AA
7.	Penalty for failure to keep and maintain information and document etc.in respect ofinternational transaction or specified domestic transaction
8.	Penalty in case of search
9.	Penalty for Failure to get accounts audited or furnish a report of audit as required under section 44AB
10.	Penalty for failure to furnish a report from an accountant as required by section 92E
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)
28.	Penalty for Failure to comply with provisions relating to Tax Deduction Account Number or Tax Collection Account Number
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.

Tax Tutorials
	New Tax Rates For FY 2018-19 & AY 2019-20 (Budget 2018)
	E-Payment Of Direct Taxes
	Filing Of Return Of Income
	Interest for Delay in Filing the Return of Income [Section 234 A]
	Interest for default in Payment of Advance Tax [Section 234B]
	Provisions Of 'Income-Tax Law' Useful For Non-Residents
	MAT (Minimum Alternate Tax)
	AMT ( Alternative Minimum Tax)
	Tax On Long-Term Capital Gains (LTCG)
	Tax On Short-Term Capital Gains (STCG)
	Exemption[ Section-54] For Capital Gains Arising On Transfer Of Residential House Property
	Tax Treatment Of Gifts Received By An Individual Or HUF
	Tax Benefits : Due To Life Insurance Policy, Health Insurance Policy And Expenditure On Medical Treatment
	Set Off And Carry Forward Of Loss Under The Income-Tax Act
	Interest For Delay In Payment of TDS/TCS And For Non-Payment Of Tax Demanded
	Tax Deduction/Collection Account Number (TAN)
	How to apply for PAN ?
	Refund Of Excess Tax Paid By The Taxpayer (Sections - 237 to 245 )
	Presumptive Taxation Scheme of Section 44AD
	Presumptive Taxation Scheme of Section 44ADA
	Presumptive Taxation Scheme of Section 44AE
	Deduction in respect of Life Insurance Premium, PPF, NSC, etc. [Section 80C]
	Deduction in respect of Medical Insurance Premium [Section 80D]
	Tax Deducted at Source (TDS) from Interest, other than Interest on Securities (Section-194A)
	Tax Deducted at Source (TDS) from Fees for Professional Services/Technical Services/Royalty (Section-194J)
	Tax Deducted at Source (TDS) from Interest on Securities (Section 193)
	Late Filing Fees And Penalty For Failure To Furnish/Delay In Furnishing The TDS/TCS Statements

Penalty for Failure to comply with provisions of relating to Permanent Account Number (PAN)

Most Popular Links :

The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications