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of <h1>Failure to deposit specified taxes including TDS is a punishable offence: imprisonment three months to seven years and fine</h1> An offence is created where a person fails to pay specified taxes to the credit of the Central Government-including tax deducted at source under Chapter XVII-B and taxes payable under listed provisions (e.g., certain provisos and subsections of sections dealing with dividend, interest, specified payments and similar liabilities). The default is punishable by rigorous imprisonment for not less than three months and up to seven years, and fine. The section does not apply if the tax referred to was paid to government credit on or before the time prescribed for filing the related statement under the relevant provision.
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