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of <h1>Amendment to Section 272BB: Penalty for False Tax Numbers Introduced by Finance Act, 2006</h1> Section 272BB of the Income-tax Act was amended by the Finance Act, 2006, effective June 1, 2006. A new sub-section (1A) was added, imposing a penalty of ten thousand rupees if a person quotes a false tax deduction, collection, or deduction and collection account number in specified documents, knowing or believing it to be false. Additionally, sub-section (2) was modified to include a reference to the new sub-section (1A), thereby extending the applicability of penalties to cases covered under this new provision.
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