Penalty for failure to furnish statements, etc
Penalty for failure to furnish statements, etc.
464. The Assessing Officer may impose a penalty which shall not be less than Rs. 10000 but which may extend up to Rs. 100000 on—
| (a) | the research association, university, college or other institution referred to in section 45, if it fails to deliver or furnish the documents as may be prescribed under section 45(4)(a); or | |
| (b) | the institution or fund, if it fails to deliver or cause to be delivered a statement within the time prescribed under section 354(1)(e), or furnish a certificate prescribed under section 354(1)(g). |