Section 271C

92. Inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.

93. Substituted by the Finance Act, 1997, w.e.f. 1-6-1997. Prior to its substitution, sub-section (1), as inserted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989 and amended by the Finance Act, 1990, w.e.f. 1-4-1990, read as under :

"(1) If any person fails to deduct the whole or any part of the tax as required by or under the provisions of Chapter XVII-B, he shall be liable to pay, by way of penalty, a sum equal to the amount of the tax which he failed to deduct as aforesaid."

94. Inserted by the Finance Act, 1990, w.e.f. 1-4-1990.

95. Substituted for "Deputy" by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998.