Penalty for failure to furnish information return, etc.

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....ailure to furnish information, return, etc.- If any person who is required under this Act or any rules or regulations made thereunder to- (a) furnish any document, return or report to th....

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.... liable to a penalty not exceeding fifty thousand rupees for every day during which such failure continues; (c) maintain books of account or records, fails to maintain the same, he shall be l....