Income-tax amendment reduces punishment for repeat tax offences to simple imprisonment up to three years and fine. Clause 24 revises section 278A to substitute simple imprisonment for rigorous imprisonment and to reduce the maximum term from seven years to three years for second and subsequent convictions under the listed tax-offence provisions, while retaining liability to fine; the amendment operates retrospectively from 1 March 2026.
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Income-tax amendment reduces punishment for repeat tax offences to simple imprisonment up to three years and fine.
Clause 24 revises section 278A to substitute simple imprisonment for rigorous imprisonment and to reduce the maximum term from seven years to three years for second and subsequent convictions under the listed tax-offence provisions, while retaining liability to fine; the amendment operates retrospectively from 1 March 2026.
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