# The Finance Act, 1997, Section 56: Substitution of new section for section 276B

- Act: The Finance Act, 1997
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1997/section/56/

## Text

Substitution of new section for section 276B. 56. 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 XXII-B 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) 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.". © Copyright. Taxmann Publications Pvt. Ltd.

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