Amendment status not verified — confirm the current text below against the official source.
(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 Rs. 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).