Penalty under Equalisation Levy [ Section 171 to 173, Finance Act 2016 ]

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..... alisation levy u/s 166 In addition to payment of equalisation levy u/s 166(3) and interest u/s 170 , penalty equal to the amount of equalisation levy that he failed to deduct would be leviable Failure to pay whole or part of Equalisation levy as required u/s 166A In addition to equalisation levy u/s 166A and interest u/s 170, penalty .....

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..... day during the period failure continues. Penalty not be imposed in certain circumstances - Section 173 , FA 2016. - No penalty for failure under section 171 or section 172, if the assessee or e-commerce operator proves to the satisfaction of the Assessing Officer that there was reasonable cause for the said failure. Further, No order imposing a penalty under this Chapter shall be made unl .....

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