# The Finance Act, 2026, Section 112: Amendment of section 477

- Act: The Finance Act, 2026 (Act 4 of 2026)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2026/section/112/

## Text

Amendment of section 477. 112. In section 477 of the Income-tax Act, for sub-section (1), the following sub-section shall be substituted, namely:— "(1) | If a person fails to pay the tax collected by him to the credit of the Central Government, as required under section 397(3)(a), he shall be punishable— (a) | 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 (b) | 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 (c) | with fine, in any other case.".

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