Siraj was fined 20 percent of his match fee by the International Cricket Council after he gave Head a send-off after bowling the Australian for 140 in the hosts' first innings.
He admitted a charge of "using language, actions or gestures which disparage or which could provoke an aggressive reaction from a batter upon dismissal".
Siraj received one demerit point, as did Head who was sanctioned for his reaction.
Head's charge related to the "abuse of a player, player support personnel, umpire or match referee".
A verbal exchange followed Siraj's dismissal of Head after the bowler pointed in the direction of the Australia dressing room.
However, the pair appeared to reconcile later in the match when Siraj came out to bat in India's second innings.
Australia won the day-night match by 10 wickets to level the five-Test series at 1-1.
