Section 77(iii) in Punjab Panchayat Samitis and Zila Parishads Finance, Budget and Accounts Rules, 2014
(iii)penalties provided in the lease or contract shall be strictly enforced in accordance with the terms and conditions of the leases or contracts. Penalties for late payment of the amount due to the Panchayat Samiti or the Zila Parishad under the lease or contract shall not be remitted except in the case where the payment of installments of the amount due are, in the opinion of the Panchayat Samiti or the Zila Parishad, as the case may be, fairly regular and the whole amount due to the Panchayat Samiti or the Zila Parishad, as the case may be, under lease or contract is paid before the end of the period to which the lease or contract relates:
