Penalty for Failure to Furnish Information or Furnishing Inaccurate Information under Section 195
Nature of Default
The penalty may be imposed if a person, responsible for paying to a non-resident, fails to furnish information in Form 15CA or Form 15CB or Form 15CC or Form 15CD, as the case may be, or furnishes inaccurate information.
Quantum of Penalty
• The Assessing Officer may impose a penalty of Rs. 100,000.
• Penalty shall not be levied if the assessee proves reasonable cause for the failure.