https://www.taxtmi.com/acts?id=53213 Substitutes section 477(1) to impose a tiered penalty for failure to pay tax collected under section 397(3)(a): simple imprisonment up to two years or fine or both where tax exceeds fifty lakh rupees; simple imprisonment up to six months or fine or both where tax exceeds ten lakh but does not exceed fifty lakh rupees; and fine in any other case. en-us Sun, 01 Feb 2026 15:33:02 +0530 Sun, 01 Feb 2026 15:33:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53213 Substitutes section 477(1) to impose a tiered penalty for failure to pay tax collected under section 397(3)(a): simple imprisonment up to two years or fine or both where tax exceeds fifty lakh rupees; simple imprisonment up to six months or fine or both where tax exceeds ten lakh but does not exceed fifty lakh rupees; and fine in any other case. Act-Rules Bills Sun, 01 Feb 2026 15:33:02 +0530 https://www.taxtmi.com/acts?id=53213