https://www.taxtmi.com/acts?id=53889 Amendment of section 479 revises the punishment structure for tax evasion-related failures by introducing graded penalties tied to the amount of tax that would have been evaded. Higher exposure attracts simple imprisonment up to two years, fine, or both; a lower band attracts simple imprisonment up to six months, fine, or both; and all other cases are punishable with fine only. The provision thus replaces the earlier clauses with a tiered enforcement framework. en-us Tue, 31 Mar 2026 15:53:59 +0530 Tue, 31 Mar 2026 15:53:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53889 Amendment of section 479 revises the punishment structure for tax evasion-related failures by introducing graded penalties tied to the amount of tax that would have been evaded. Higher exposure attracts simple imprisonment up to two years, fine, or both; a lower band attracts simple imprisonment up to six months, fine, or both; and all other cases are punishable with fine only. The provision thus replaces the earlier clauses with a tiered enforcement framework. Act-Rules F. Acts / Amendment Acts Tue, 31 Mar 2026 15:53:59 +0530 https://www.taxtmi.com/acts?id=53889