# The Finance Act, 2026, Section 111: Amendment of section 476

- Act: The Finance Act, 2026 (Act 4 of 2026)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2026/section/111/

## Text

Amendment of section 476. 111. In section 476 of the Income-tax Act, for sub-section (1), the following sub-section shall be substituted, namely:— "(1) | If a person fails to— (a) | pay the tax deducted at source by him to the credit of the Central Government, as required by or under the provisions of Chapter XIX-B; or (b) | pay tax or ensure payment of tax to the credit of the Central Government in respect of— (A) | any income by way of winnings from online games as referred in section 393(3) [Table: Sl. No. 2], excluding such winnings which are wholly in kind, as referred to in Note 2 to the said Table; or (B) | any sum by way of consideration for transfer of a virtual digital asset as referred in section 393(1) [Table: Sl. No. 8(vi)], excluding such consideration which is wholly in kind, as referred to in Note 6 to the said Table, he shall be punishable— (i) | with simple imprisonment for a term up to two years, or with fine, or with both, where the amount of such tax exceeds fifty lakh rupees; or (ii) | with simple imprisonment for a term up to six months, or with fine, or with both, where the amount of such tax exceeds ten lakh rupees but does not exceed fifty lakh rupees; or (iii) | with fine, in any other case.".

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