Telecom Regulatory Authority of India Act : Amendment of section 271C. Indian Bare Acts :

Telecom Regulatory Authority of India Act,1997

Act No : 24

Section : Amendment of section 271C.

53. Amendment of section 271C. In section 271C of the Income-tax Act, for sub-section (1), the following sub-section hall be substituted with effect from the 1st day of June, 1997, namely:- "(1) If any person fails to- (a) deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B; or (b) pay the whole or any part of the tax as required by or under- (i) sub-section (2) of section 115-O; or (ii) the second proviso to section 194B then, such person shall be liable to pay, by way of penalty, a sum, equal to the amount of tax which such person failed to deduct or pay as aforesaid.".