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of <h1>Rigorous Imprisonment for Non-Compliance with Section 178(1) and (3) of Income-Tax Act Ends After March 31, 2023</h1> A person who fails to comply with the requirements under sub-sections (1) and (3) of section 178 of the Income-tax Act, 1961, including failure to give notice, failure to set aside the required amount, or unauthorized disposal of company assets, is liable to rigorous imprisonment for up to two years, with a minimum term of six months unless the court records special reasons. However, no proceedings under this provision may be initiated on or after April 1, 2023.
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