(1)Without prejudice to the provisions of this Act, where a person fails to deliver or cause to be delivered a statement within the time prescribed in section 397(3)(b), he shall be liable to pay, by way of fee, a sum of ₹200 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 of tax deductible or collectible; and(b)be paid before delivering or causing to be delivered the statement, as per sub-section (1).[Similar to Section 234E from The Income Tax Act, 1961-Also Refer]
