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of <h1>New law penalises willful non-filing of income-tax returns with tiered jail terms and limited immunity under section 263(4)/263(6)</h1> Two versions criminalise willful non-filing of prescribed income-tax returns with tiered imprisonment (=6 months-7 years where tax evaded > ?25 lakh; =3-12 months-2 years otherwise) plus fine, and provide limited immunity where the return is later filed or, for non-companies, the net tax shortfall is = ?10,000. The Bill's original text expressly used a one-year cure and one-year timing for qualifying tax payments; the enacted Act replaces that explicit one-year benchmark by reference to the timing in section 263(4)/263(6). The enacted text otherwise preserves the same penal scheme and fine liability.
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