Amendment of section 278.

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..... (b) in clause (ii), for the words three years , the words two years shall be substituted. - Clause 105 of the Bill seeks to amend section 278 of the Income-tax Act relating to abetment of false return, etc. The existing provisions of the aforesaid section 278 provide that if any person abets or induces in any manner another person to make and deliver an account or make a statement or .....

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..... aid section so as to increase the limit of amount of tax, penalty or interest which would have been evaded from one hundred thousand rupees to twenty-five hundred thousand rupees and to reduce the maximum imprisonment from three years to two years. These amendments will take effect from 1st July, 2012. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxati .....

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