Section 271H → Section 355
Penalty for failure to furnish TDS/TCS statements
Quick Answer
Section 271H of the Income Tax Act, 1961 (Penalty for failure to furnish TDS/TCS statements) corresponds to Section 355 of the Income-tax Act, 2025, effective 1st April 2026. Status: Retained.
What changed for Section 271H
The starting point is Section 271H of the Income Tax Act, 1961 — penalty for failure to furnish TDS/TCS statements. Penalty ranging from Rs. 10,000 to Rs. 1 Lakh for not filing TDS returns for more than a year.
Under the Income-tax Act, 2025 (effective 1st April 2026), Section 271H is retained and renumbered as Section 355 of the Income-tax Act, 2025. Retained. Separate from the Rs. 200/day fee under 234E.
The transition impact on Section 271H is assessed as Medium. Additional sting for total compliance failure.
Sec 271H
Provision Summary
Penalty ranging from Rs. 10,000 to Rs. 1 Lakh for not filing TDS returns for more than a year.
Sec 355
Provision Summary
Retained. Separate from the Rs. 200/day fee under 234E.
Key Changes & Highlights
- None.
Related Sections
Frequently Asked Questions
Which subject does Section 271H of the 1961 Act cover?
Section 271H of the Income Tax Act, 1961 covers penalty for failure to furnish TDS/TCS statements. Penalty ranging from Rs. 10,000 to Rs. 1 Lakh for not filing TDS returns for more than a year.
What is the new section number for Section 271H under the Income-tax Act, 2025?
Section 271H of the Income Tax Act, 1961 maps to Section 355 of the Income-tax Act, 2025, effective 1st April 2026 (status: Retained). Retained. Separate from the Rs. 200/day fee under 234E.
How does the Income-tax Act, 2025 affect Section 271H in practice?
The transition impact for Section 271H is rated Medium. Additional sting for total compliance failure.
What is new about Section 271H under the Income-tax Act, 2025?
None. These points are specific to Section 271H (Penalty for failure to furnish TDS/TCS statements).
Disclaimer: This mapping of Section 271H (Penalty for failure to furnish TDS/TCS statements) to Section 355 of the Income-tax Act, 2025 is for educational and reference purposes only, based on publicly available drafts and circulars. As Section 271H is currently marked Retained, always confirm its treatment with a qualified Chartered Accountant before filing or making compliance decisions.
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