Amendment status not verified — confirm the current text below against the official source.
(1) If any person who is under an obligation to file a statement under this Act fails , without reasonable cause or excuse, to file the state- ment within the time specified for the purpose, he shall be punishable with imprisonment for a term which may extend to two years or with fine which may extend to five thousand rupees or with both. (2) If any person who , having been convicted under sub -section (2) continues to fail, without reasonable cause or excuse, to file the state- ment, he shall be punishable with fine which may extend to five hun- dred rupees for every day during which such contravention continues after conviction for the first such contravention. (3) If any person who is under an obligation to file a statement under this Act files a statement which he knows or has reasonable belief to be false, he shall be punishable with imprisonment for a term which may extend to two years or with fine which may extend to one thousan- rupees or with both. (4) If any person contravenes any of the provisions of this Act for which no penalty has been expressly provided for, he shall be punish- able with imprisonment for a term which may extend to two years or with fine which may extend to one thousand rupees or with both.