Amendment of section 378ZM
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....liable to a penalty of one lakh rupees and in case of continuing failure, with a further penalty of five hundred rupees for each day, after the first during which such failure continues, subject to a maximum of five lakh rupees" shall be substituted; (b) in sub-section (2), for the words "imprisonment for a term which may extend to six months and with fine equivalent to five per cent. of ....
TaxTMI