Section 16 - Amendment of section 36 - Taxation Laws (Amendment) Act, 1972

16. Amendment of section 36. In section 36 of the Wealth-tax Act, after sub-section (2A), the following sub-section shall be inserted, namely: (2B) If a person makes a statement in a verification mentioned in section 34AB which is false, and which he either knows or believes to be false, or does not believe to be true, he shall be punishable with imprisonment which may extend to six months or with fine or with both. .