Failure to pay tax collected at source results in criminal penalties unless payment is made by the statement filing deadline. Clause 477 criminalises failure to deposit tax collected at source to the credit of the Central Government, rendering the person liable to imprisonment ... Summary
Failure to pay tax collected at source results in criminal penalties unless payment is made by the statement filing deadline.
Clause 477 criminalises failure to deposit tax collected at source to the credit of the Central Government, rendering the person liable to imprisonment and fine; the section does not apply if the tax collected is deposited to the Central Government on or before the time prescribed for filing the statement under section 397(3)(b).
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