A company fails to file a required quarterly TDS statement for tax year 2026–27. The amount of tax deductible was ₹1,20,000. What fee does section 427 prescribe?

Section 427 of the Income-tax Act, 2025 levies a fee of ₹200 for every day a TDS statement is delayed beyond the time in section 397(3)(b), capped at the amount of tax deductible or collectible. With ₹1,20,000 deductible, the cap is ₹1,20,000; the daily rate is ₹200, not ₹100, and the cap is the tax amount, not a fixed ₹1,00,000.