Insertion of new section 62A - Penalty for failure to comply with provisions of section 9A

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....tion of new section 62A. 18. After section 62 of the principal Act, the following section shall be inserted, namely:--  Penalty for failure to comply with provisions of section 9A. &nbsp....

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....one lakh rupees, but which may extend up to one per cent. of the collection or transfer so defaulted. (2) Any person who,-- (a) being required under sub-section (5) of section 9A to submit detai....