Quick Summary
Alignment of the provisions relating to Offences and Prosecutions under Chapter XXII of the Act 1. Sections 269UC/UE/UL along with other provisions of Chapter XX-C have been made inapplicable with effect from 01.07.2002. Vide Finance Act, 2002, section 269UP was introduced providing that the prov
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FAQ :
Section 276BB is being included in the prosecution provisions for individuals who fail to pay Tax Collected at Source (TCS). This change aligns with existing sections for Tax Deducted at Source (TDS).
These amendments will take effect from April 1, 2022.
No fresh prosecution proceedings will be initiated under Section 276AB on or after April 1, 2022.
Section 276BB is being included to provide prosecution measures for failure to pay Tax Collected at Source (TCS), similar to the existing provisions for Tax Deducted at Source (TDS) under Section 276B.
Section 276AB is being amended with a sunset clause to ensure that no new prosecution proceedings are initiated for offences related to outdated provisions of Chapter XX-C concerning immovable property transactions, which were made inapplicable from July 1, 2002.
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