Step 1: Understanding the Question.
Section 500 of the Indian Penal Code (IPC) deals with defamation and prescribes a punishment of simple imprisonment for up to 2 years, or a fine, or both.
Step 2: Analysis of Options.
- (A) 2 Years: This is incorrect because the maximum punishment prescribed under IPC for defamation is 3 years.
- (B) 3 Years: This is the correct answer, as the punishment can extend to 3 years of imprisonment, or a fine, or both.
- (C) 4 Years: This is incorrect.
- (D) 5 Years: This is incorrect, as the punishment does not extend to 5 years.
Step 3: Conclusion.
Thus, the correct answer is (B) 3 Years.