(2)A person shall be liable to pay a penalty of ₹500 for every day during which the following failures continue, if that person fails to—(a)comply with a notice under section 175(7); or(b)give the notice of discontinuance of his business or profession as required by section 320(3); or(c)furnish in due time any of the returns, statements or particulars mentioned in section 252 or 397(3) or 507; or(d)allow inspection of any register referred to in section 255 or of any entry in such register or to allow copies of such register or of any entry therein to be taken; or(e)furnish the return of income as required under section 263(1)(a)(iii) or (iv) or to furnish it within the time allowed and, in the manner, required under sections 263(1) and (2); or(f)deliver or cause to be delivered in due time a copy of the declaration required under section 393(7); or(g)furnish a certificate under section 395(4); or(h)deduct and pay tax under section 416(3); or(i)furnish a statement under section 392(5)(a); or(j)deliver or cause to be delivered in due time a copy of the declaration required under section 394(3); or(k)deliver or cause to be delivered the statement within the time specified in section 397(3)(b); or(l)deliver or cause to be delivered a statement within the time as may be prescribed under section 397(3)(e); or(m)deliver or cause to be delivered a statement within the time as may be prescribed under section 397(3)(g)(i).
