Penalty for failure to furnish statement under section 95A

(1) If any person bound to file a statement under section 95A does not file the statement within the time specified in that section, he shall be punishable with imprisonment for a term which may extend to one year, or with fine which may extend to Rs. 2,000, or with both. (2) If any person, who after having been convicted under sub-section (1), continues to fail to file the statement referred to in that sub-section, he shall be punishable with fine which may extend to Rs. 200 for each day after the previous date of conviction during which he continued so to offend.