Failure to deduct or pay tax triggers criminal penalties and imprisonment where statutory thresholds are exceeded. The amendment creates distinct offences for failure to deduct or pay tax, wilful attempts to evade tax (including false or omitted entries in books or ... Summary
Failure to deduct or pay tax triggers criminal penalties and imprisonment where statutory thresholds are exceeded.
The amendment creates distinct offences for failure to deduct or pay tax, wilful attempts to evade tax (including false or omitted entries in books or documents), and wilful failure to furnish returns, prescribing graduated terms of imprisonment and fine linked to specified monetary thresholds and including limited temporal and tax-liability exceptions for return-filing.
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