penalty for sec 148

Section 276CC is attracted for any of the following defaults by the taxpayer :

Failure to file the return of income as per section 139(1).

Failure to file the return of income in response to a notice issued under section 142(1)(i) or section 148 or section 153A.

Punishment for the above failures shall be as under:

 Rigorous imprisonment which shall not be less than 6 months but which may extend to seven years and with fine where tax sought to be evaded exceeds Rs. 25 lakh (Rs. 1 lakh upto 30-6-2012).

 Rigorous imprisonment which shall not be less than 3 months but which may extend to two years (3 years upto 30-6-2012) and with fine in other cases .