(1) If a person who is required to furnish a statement of financial transaction or reportable account under section 508(1), fails to furnish such statement within the time prescribed under sub-section (2) thereof, the incometax authority prescribed under the said sub-section (1) may impose on him, a penalty of five hundred rupees for every day […]

(1) The prescribed income-tax authority referred to in section 508 may direct that a person required to furnish a statement under sub-section (1) of the saidsection shall pay penalty of fifty thousand rupees, if such person—(a) provides inaccurate information in the statement or fails to furnish correct information within the period specified under section 508(8);

If any eligible investment fund required to furnish a statement or any information or document under section 9(12)(e) [section 9A (5)], fails todo so within the time prescribed under that section, the income-tax authority prescribed under the said section may direct that such fund shall pay, by wayof penalty, a sum of five lakh rupees.

If any person who has entered into an international transaction or specified domestic transaction fails to furnish any such information or document asrequired by section 171(2), a penalty equal to 2 % of the value of such transaction may be imposed upon him for each such failure by the Assessing Officer or theTransfer Pricing Officer

If any Indian concern which is required to furnish any information or document under section 506, fails to do so, the prescribed income-tax authorityunder the said section, may direct that such Indian concern shall pay by way of penalty, a sum of—(a) 2% of the value of the transaction in respect of which such failure

(1) If any reporting entity referred to in section 511, required to furnish the report referred to in sub-section (2) of the said section, for a reporting accountingyear, fails to do so, the prescribed authority under that section may impose on such entity, a penalty of—(a) five thousand rupees for every day for which the

If a person required to furnish statement under section 505, fails to do so within the period prescribed under that section, the Assessing Officer may impose on him, a penalty of— (a) one thousand rupees for every day for which the failure continues, if the period of failure does not exceed three months; or(b) one lakh

(1) Where a person, who is required to deliver or causes to be delivered a statement prescribed in section 397(3)(b), fails to do so within the time prescribedin the said section, or furnishes incorrect information in the said statement, the Assessing Officer may impose on such person, a penalty of a sum which shall notbe

If a person, who is required to furnish information under section 397 (3)(d), fails to furnish such information, or furnishes inaccurate information, the Assessing Officer may impose a penalty of one lakh rupees.

(1) Any accountant or merchant banker or registered valuer, shall be liable to pay a penalty of ten thousand rupees for any incorrect information in any report or certificate furnished under any provision of this Act or the rules made thereunder.(2) The penalty under sub-section (1) shall be payable in respect of each incorrect report