Failure to deduct or pay tax
69[Failure to deduct or pay tax.
276B. If a person fails to deduct or after deducting, fails to pay the tax as required by or under the provisions of sub-section (9) of section 80E or Chapter XVI1-B, he shall be punishable,—
(i) in a case where the amount of tax which he has failed to deduct or pay exceeds one hundred thousand rupees, with rigorous imprisonment for a term which shall not be less than six months but which may extend to seven years and with fine;
(ii) in any other case, with rigorous imprisonment for a term which shall not be less than three months but which may extend to three years and with fine.]
The following section 276B shall be substituted for the existing section by the Direct Lax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989:
Failure to pay the tax deducted at source.
276B. If a person fails to pay to the credit of the Central Government, the tax deducted at source by him as required by or under the provisions of Chapter XVII-B, 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.
69Substituted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-10-1975. Original section was inserted by the Finance Act, 1968, w.e.f. 1-4-1968.
[AS AMENDED BY THE FINANCE ACT, 1988]