Finance Act, 1980
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Chapter VIII Anti-evasion | ||
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Amendment of section 516 (penalty for false statement made to obtain allowance) of Income Tax Act, 1967. |
59.—In relation to offences committed after the passing of this Act, the following section shall be substituted for section 516 of the Income Tax Act, 1967 : | |
“516.—A person who— | ||
(a) knowingly makes any false statement or false representation— | ||
(i) in any return or statement made with reference to tax, or | ||
(ii) for the purpose of obtaining any allowance, reduction, rebate or repayment of tax either for himself or for any other person, | ||
or | ||
(b) knowingly and wilfully aids, abets, assists, incites or induces another person— | ||
(i) to make or deliver a false or fraudulent account, return, list, declaration or statement with reference to property, profits or gains or to tax, or | ||
(ii) unlawfully to avoid liability to tax by failing to disclose the full amount of his income from all sources, | ||
shall be guilty of an offence and shall be liable, on summary conviction, to imprisonment for a term not exceeding six months.”. |