# The Finance Act, 1988, Section 46: Insertion of new section 276BB

- Act: The Finance Act, 1988 (Act 26 of 1988)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1988/section/46/

## Text

Insertion of new section 276BB 46. After section 276B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 1988, namely:— Failure to pay the tax collected at source "276BB. If a person fails to pay to the credit of the Central Government, the tax collected by him as required under the provisions of section 206C, 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.". [Finance Act, 1988] © Copyright. Taxmann Publications Pvt. Ltd.

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