https://www.taxtmi.com/acts?id=53804 Section 278 is amended to substitute a graded punishment framework for offences involving false declarations, accounts or statements, and wilful attempts to evade tax, penalty or interest. The revised clauses prescribe simple imprisonment up to two years, or fine, or both, where the evasion amount exceeds fifty lakh rupees; simple imprisonment up to six months, or fine, or both, where the amount exceeds ten lakh rupees but does not exceed fifty lakh rupees; and fine in any other case. The amendment takes effect from 1 March 2026. en-us Tue, 31 Mar 2026 15:21:14 +0530 Tue, 31 Mar 2026 15:21:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53804 Section 278 is amended to substitute a graded punishment framework for offences involving false declarations, accounts or statements, and wilful attempts to evade tax, penalty or interest. The revised clauses prescribe simple imprisonment up to two years, or fine, or both, where the evasion amount exceeds fifty lakh rupees; simple imprisonment up to six months, or fine, or both, where the amount exceeds ten lakh rupees but does not exceed fifty lakh rupees; and fine in any other case. The amendment takes effect from 1 March 2026. Act-Rules F. Acts / Amendment Acts Tue, 31 Mar 2026 15:21:14 +0530 https://www.taxtmi.com/acts?id=53804