Section 124 - Amendment of section 276B. - Finance Act, 2023

Amendment of section 276B. 124 . In section 276B of the Income-tax Act, (A) in the opening portion, the words pay to the credit of the Central Government shall be omitted; (B) in clause (a), for the words the tax deducted , the words pay to the credit of the Central Government, the tax deducted shall be substituted; (C) for clause (b), the following clause shall be substituted, namely: '(b) pay tax or ensure payment of tax to the credit of the Central Government, as required by or under (i) sub-section (2) of section 115-O; (ii) the proviso to section 194B; (iii) the first proviso to sub-section (1) of section 194R; (iv) the proviso to sub-section (1) of section 194S; or'; (D) after sub-clause (iv) of clause (b) as substituted by the Finance Act, 2023, the following sub-clause shall be inserted with effect from the 1st day of July, 2023, namely: (v) sub-section (2) of section 194BA, .