276B. Failure to pay tax to the credit of Central Government under Chapter XII-D or XVII-B. — If a person fails to pay to the credit of the Central Government,—

(a)  the tax deducted at source by him as required by or under the provisions of Chapter XVII-B; or

(b)  the tax payable by him, as required by or under—

  (i)  sub-section (2) of section 115-O; or

 (ii)  the second proviso to section 194B,

he shall be punishable with rigorous imprisonment for a term which shall not be less than three months but which may extend to seven years and with fine