46. Punishment for contravention in relation to failure to furnish information, declaration or return.-Any person who being required by or under this Act to furnish any- (a) information;
(b) declaration; or
(c) return, fails to furnish such information, declaration or return shall be punishable with fine which may extend to one lakh rupees, and in the case of continuing default, with a further fine which may extend to one lakh rupees for every day during which such default continues after conviction for the first such default, or with imprisonment for a term which may extend to three years, or with both.
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