# 44 Penalty for default in payment of tax arrear
(1) Every person who is an assessee in default, or an assessee deemed to be in default, as the case may be, in making payment of tax, and in case of continuing default by such assessee, he shall be liable to a penalty of an amount, equal to the amount of tax arrear.
(2) An assessee shall not cease to be liable to any penalty under sub-section (1) merely by reason of the fact that before the levy of such penalty he has paid the tax.
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PENALTIES
41
Penalty in relation to undisclosed foreign income and asset42
Penalty for failure to furnish return in relation to foreign income and asset43
Penalty for failure to furnish in return of income, an information or furnish inaccurate particulars about an asset (including financial interest in any entity) located outside India45
Penalty for other defaults46
Procedure47
Bar of limitation for imposing penalty
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