Whoever fails to subscribe any amount of subscription to the units issued under
any scheme referred to in sub-section (1) of section 18A2to the eligible issue
of capital under that sub-section within the period of six months specified
therein, may be directed by the 3 Joint Commissioner to pay, by way of penalty,
a sum equal to twenty per cent of such amount.
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1. Ins. by Act 12 of 1990, s. 43 (w.e.f. 1-4-1990).
2.Section 88A omitted by Act 33 of 1996, s. 35 (w.e.f. 1-4-1994).
3. Subs. by Act 21 of 1998, s. 3, for "Deputy Commissioner" (w.e.f. 1-10-1998).
Section 270A Penalty for under reporting and misreporting of income
Section 270AA Immunity from imposition of penalty, etc
Section 271 Failure to furnish returns, comply with notices, concealment of income, etc
Section 271A Failure to keep, maintain or retain books of account, documents, etc
Section 271AAA Penalty where search has been initiated
Section 271AAB Penalty where search has been initiated
Section 271AAC Penalty in respect of certain income
Section 271B Failure to get accounts audited
Section 271BA Penalty for failure to furnish report under section 92E
Section 271BB Failure to subscribe to the eligible issue of capital