Telecom Regulatory Authority of India Act : Substitution of new section for section 276B. Indian Bare

Telecom Regulatory Authority of India Act,1997

Act No : 24

Section : Substitution of new section for section 276B.

56. Substitution of new section for section 276B. For section 276B of the Income-tax Act, the following section shall be substituted with effect from the 1st day of June, 1997, namely:- "276B. Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B. If a person fails to pay to the credit of the Central Government,- (a) the tax deducted at source by him as required by or under the provisions of Chapter XVII-B; or (b) the tax payable by him, as required by or under- (i) sub-section (2) of section 115-O; or (ii) the second proviso to section 194B, He shall be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to seven years and with fine.".