- After section 234F of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 2020, namely:-"234G. Fee for default relating to statement or certificate.-(1) Without prejudice to the provisions of this Act, where,-(a)the research association, university, college or other institution referred to in clause (ii) or clause (iii) or the company referred to in clause (iia) of sub-section (1) of section 35 fails to deliver or cause to be delivered a statement within the time prescribed under clause (i), or furnish a certificate prescribed under clause (ii) of sub-section (1A) of that section; or(b)the institution or fund fails to deliver or cause to be delivered a statement within the time prescribed under clause (viii) of sub-section (5) of section 80G, or furnish a certificate prescribed under clause (ix) of the said sub-section,it shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.(2)The amount of fee referred to in sub-section (1) shall,-(a)not exceed the amount in respect of which the failure referred to therein has occurred;(b)be paid before delivering or causing to be delivered the statement or before furnishing the certificate referred to in sub-section (1).".
