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    <title>Penalty for failure to furnish information return.</title>
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    <description>Where a person required to furnish an information return under the governing provision fails to do so within the period specified in the notice issued under the relevant sub provision, the proper officer may direct a daily penalty for each day the failure continues, subject to an overall statutory penalty cap.</description>
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      <description>Where a person required to furnish an information return under the governing provision fails to do so within the period specified in the notice issued under the relevant sub provision, the proper officer may direct a daily penalty for each day the failure continues, subject to an overall statutory penalty cap.</description>
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