Amendment of section 477
Section 112 of the Finance Act, 2026 deals with amendment of section 477. 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 punish
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— Section 112, The Finance Act, 2026 (Act 4 of 2026).
(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.".
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 2
Questions about Section 112
What does Section 112 of the Finance Act deal with?
Section 112 of the Finance Act is headed "Amendment of section 477". 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 punish
How do I find court cases under Section 112 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 2026 112, section 112 Finance Act 2026, section 112 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 112 of the Finance Act, and has it changed?
2 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2026 as Act 4 of 2026. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. -11686 words
- 3. Income-tax under Act 30 of 20258033 words
- Fourth Schedule. -4078 words
- 2. Income-tax under Act 43 of 19612736 words
- 26. Substitution of new sections for sections 276B, 276BB, 276C, 276CC, 276CCC and 276D1437 words
- Fifth Schedule. -1363 words
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