Section - 172 - Penalty for failure to furnish statement
Penalty for failure to furnish statement.172. Where an 20a[assessee or e-commerce operator] fails to furnish the statement within the time prescribed under sub-section (1) or sub-section (3) of section 167, he shall be liable to pay a penalty of one hundred rupees for each day during which the failure continues.
20a. Substituted for "assessee" by the Finance Act, 2020, w.e.f. 1-4-2020.
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