Penalty for failure to furnish report or for furnishing inaccurate report under section 511.

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..... a reporting accounting year, fails to do so, the prescribed authority under that section may impose on such entity, a penalty of- (a) five thousand rupees for every day for which the failure continues, if the period of failure does not exceed one month; or (b) fifteen thousand rupees for every day for which the failure continues beyond the period of one month. (2) If a reporting entity referr .....

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..... order. (4) If a reporting entity referred to in section 511 provides inaccurate information in the report furnished under sub-section (2) of the said section, the prescribed authority under that section may impose on such entity, a penalty of five lakh rupees, if- (a) the entity has knowledge of the inaccuracy at the time of furnishing the report but fails to inform the prescribed authority; o .....

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