428. Fee for default in furnishing return of income.
Without prejudice to the provisions of this Act, where, a person required to furnish a return of income under section 263 fails to do so within such time as may be prescribed in section 263(1), he shall pay, by way of a fee,––(a)a sum not exceeding ₹ 1000, if the total income of such person does not exceed ₹ 500000;(b)a sum of ₹5000, in any other case.[Similar to Section 234F from The Income Tax Act, 1961-Also Refer]
