(1) If any person fails to—

(a) deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B; or

(b) pay or ensure payment of, the whole or any part of the tax as required by or under—

(i) sub-section (2) of section 115-O;

(ii) the proviso to section 194B;

(iii) the first proviso to sub-section (1) of section 194R; or

(iv) the proviso to sub-section (1) of section 194S; or

(v) sub-section (2) of section 194BA, then, such person shall be liable to pay, by way of penalty, a sum equal to the amount of tax which such person failed to deduct or pay or ensure payment of, as aforesaid.

(2) Any penalty imposable under sub-section (1) shall be imposed by the Joint Commissioner:

¹⁰[Provided that any penalty under sub-section (1) on or after the 1st day of April, 2025, shall be imposed by the Assessing Officer.]