https://www.taxtmi.com/acts?id=53895 Section 494 of the Income-tax Act is amended by substituting the existing penal language in sub-section (1). The earlier punishment of imprisonment which may extend to six months, together with liability to fine, is replaced with simple imprisonment up to one month, or fine, or both. The amendment narrows the custodial component and restates the punishment structure in alternative terms. en-us Tue, 31 Mar 2026 15:55:13 +0530 Tue, 31 Mar 2026 15:55:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53895 Section 494 of the Income-tax Act is amended by substituting the existing penal language in sub-section (1). The earlier punishment of imprisonment which may extend to six months, together with liability to fine, is replaced with simple imprisonment up to one month, or fine, or both. The amendment narrows the custodial component and restates the punishment structure in alternative terms. Act-Rules F. Acts / Amendment Acts Tue, 31 Mar 2026 15:55:13 +0530 https://www.taxtmi.com/acts?id=53895