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Section21
The Finance Act, 1968

Insertion of new section 276B

In force Act 19 of 1968 As on 16 Oct 2026

Act 19 of 1968 Ministry Finance Enacted 11 May 1968

Section 21 of the Finance Act, 1968 deals with insertion of new section 276B. Insertion of new section 276B 21. After section 276A of the Income-tax Act, the following section shall be inserted, namely:— Failure to deduct and pay tax "276B. The Act was enacted on 11 May 1968.

Insertion of new section 276B

21. After section 276A of the Income-tax Act, the following section shall be inserted, namely:—

Failure to deduct and pay tax

"276B. If a person, without reasonable cause or excuse, 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 XVII-B, he shall be punishable with rigorous imprisonment for a term which may extend to six months, and shall also be liable to fine which shall be not less than a sum calculated at the rate of fifteen per cent per annum on the amount of such tax from the date on which such tax was deductible to the date on which such tax is actually paid.".

[Finance Act, 1968]

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Section 21, The Finance Act, 1968 (Act 19 of 1968).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Income-tax Act s. 276A Failure to comply with the provisions of sub-sections (1) and (3) of section 178

Questions about Section 21

What does Section 21 of the Finance Act deal with?

Section 21 of the Finance Act is headed "Insertion of new section 276B". Insertion of new section 276B 21. After section 276A of the Income-tax Act, the following section shall be inserted, namely:— Failure to deduct and pay tax "276B.

How do I find court cases under Section 21 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1968 21, section 21 Finance Act 1968, section 21 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 21 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 276A (Failure to comply with the provisions of sub-sections (1) and (3) of section 178), so none of them can safely be read on its own.

When was Section 21 of the Finance Act enacted?

Section 21 of the Finance Act, cited as Finance Act 1968 21, was enacted on 11 May 1968 as Act 19 of 1968. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.