Penalty for failure to furnish information, return, etc :
Section – 19A. Any person, who is required under this Act or any rules or regulations or bye-laws made thereunder,—
| (a) | to furnish any information, document, books, returns or report to the Board, fails to furnish the same within the time specified therefor, [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents] he shall be liable to a penalty [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees]; for each such failure; | |
| (b) | to file any return or furnish any information, books or other documents within the time specified therefor in the regulations or bye-laws, fails to file return or furnish the same within the time specified therefor, he [or who furnishes or files false, incorrect or incomplete information, return, report, books or other documents, he] shall be liable to a penalty [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees]; | |
| (c) | to maintain books of account or records, fails to maintain the same, he shall be liable to a [which shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during which such failure continues subject to a maximum of one crore rupees |