Section 118 - Substitution of new section for section 276B - Direct Tax Laws (Amendment) Act, 1987

118. Substitution of new section for section 276B. For section 276B of the Income-tax Act, the following section shall be substituted, namely :- 276B. Failure to pay the tax deducted at source. If a person fails to pay to the credit of the Central Government, the tax deducted at source by him as required by or under the provisions of Chapter XVII-B, he shall be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to seven years and with fine. .