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of <h1>New Provision Imposes Penalties for Failing to Pay Taxes Under Section 276B of Income-tax Act; Includes Rigorous Imprisonment</h1> Section 276B of the Income-tax Act has been replaced, effective June 1, 1997, by a provision that imposes penalties for failing to pay taxes to the Central Government. This includes taxes deducted at source under Chapter XVII-B and taxes payable under specific sections, such as sub-section (2) of section 115-O and the second proviso to section 194B. Violators face rigorous imprisonment ranging from three months to seven years and a fine.
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