Penalty re Failure to Collect Tax (TCS)

Section 449 — - PENALTY RE FAILURE TO COLLECT TAX (TCS)

Section 449 of the Income-tax Act, 2025 corresponds to s. 271CA of the Income-tax Act, 1961.

STATUTORY ARCHITECTURE

Penalty equal to TCS not collected. Mirror of s. 448 [271C] for collectors.

PRACTITIONER PLANNING NOTES

• Document the buyer's PAN or declaration; reasonable-cause defence on bona fide non-collection.

CROSS-REFERENCES

• s. 439 (under-reporting or misreporting -- master penalty).
• s. 440 (immunity application).
• s. 469 or 470 (waiver or reasonable-cause).
• s. 471 or 472 (procedure or limitation).