Section 276 of Income Tax Act for AY 2023-24

Section 276 of Income Tax Act 1961 amended by Finance Act 2022 Removal, concealment, transfer or delivery of property to thwart tax recovery.

Amended and updated notes on section 276 of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to Removal, concealment, transfer or delivery of property to thwart tax recovery.

Chapter XXII (Sections 275A to 280D) of the Income Tax Act 1961 deals with the provisions related to offences and prosecutions. Section 276 of IT Act 1961 provides for Removal, concealment, transfer or delivery of property to thwart tax recovery.

Recently, we have discussed in detail section 275B (Failure to comply with the provisions of clause (iib) of sub-section (1) of section 132) of IT Act 1961. Today, we learn the provisions of section 276 of Income-tax Act 1961. The amended provision of section 276 is effective for financial year 2022-23 relevant to the assessment year 2023-24.

In this article, you will learn detail of the provisions of section 276 of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962 as provided by Ministry of Law and Justice, Government of India.

Section-276: Removal, concealment, transfer or delivery of property to thwart tax recovery

Whoever fraudulently removes, conceals, transfers or delivers to any person, any property or any interest therein, intending thereby to prevent that property or interest therein from being taken in execution of a certificate under the provisions of the Second Schedule shall be punishable with rigorous imprisonment for a term which may extend to two years and shall also be liable to fine.


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