Penalty for failure to furnish statement or information or document by an eligible investment fund
Penalty for failure to furnish statement or information or document by an eligible investment fund.
456. If any eligible investment fund required to furnish a statement or any information or document under paragraph 4 of Schedule I, fails to do so within the time prescribed under the said paragraph, the income-tax authority prescribed under the said paragraph may direct that such fund shall pay, by way of penalty, a sum of Rs. 500000.