31. Amendment of section 141 of the principal enactment

Section 141 of the principal enactment is hereby amended by the substitution for all the words and figures from “any bank or financial institution” to the words “a penalty of a sum”, of the words and figures “any bank or financial institution which pays interest or issues any debt security , or a company which issues corporate debt security, not deducting tax in accordance with the provisions of section 133 or section 135, as the case may be, he shall after affording such bank, financial institution or any such company, which pays interest or issues debt security or corporate debt security, as the case may be, an opportunity to show cause and where he is satisfied that there has been a contravention of the provisions of section 133 or section 135, impose on such bank or financial institution or the company, which pays interest or issues such debt security or corporate debt security, as the case may be, a penalty of a sum”.