Penalty for falsification and non furnishing of records etc

Penalty for falsification and non furnishing of records etc 14.

1. (1) Whoever—
   • (a) produces false records or counterfeits or knowingly makes or produces or uses a false statement, declaration or evidence regarding any document in connection with compliance of any of the provisions of this Act or any rules made thereunder; or
   • (b) makes, gives or delivers knowingly a false return, notice, record or report containing a statement, entry or detail, shall be punishable with penalty which may extend to fifty thousand rupees for each offence.
2. (2) Where any person convicted of an offence punishable under sub-section
3. (1) is again convicted of an offence under the same provision, he shall be punishable with penalty which shall not be less than two lakh rupees but which may extend to five lakh rupees.