Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Proposed Amendments to Section 276B: Rationalising Prosecution for Delayed Tax Payments
Update / Judgement Date
28 Jul 2024
Source
Author
Team — WCP Legal Desk
Reading Time
1 min read
Corporate ComplianceCriminal LawIncome Tax
The proposed amendments to Section 276B of the Income Tax Act aim to rationalize prosecution for delayed tax payments. Currently, failure to pay tax deducted at source (TDS) can lead to imprisonment of three months to seven years and fines. The amendment exempts individuals from prosecution if the TDS for a quarter is paid before the deadline for filing the quarterly statement under Section 200(3). This change will be effective from October 1, 2024.
