- A person who fails to maintain true and complete accounts and other records in accordance with the requirements of this Act is guilty of an offence and liable on conviction to,-(a)where the failure was deliberate or repeated, a fine not exceeding Twenty five thousand rupees or to imprisonment for a term not exceeding six months, or both; or(b)in any other case, a fine not exceeding Ten thousand rupees or to imprisonment for a term not exceeding one month, or both.
