Penalty for failure to keep and submit accounts.

If any person liable under the last preceding section to keep accounts or to submit statement of accounts fails to keep accounts or to submit statements of accounts as required by that section or keeps accounts or submitts statements of accounts which are false and which he either knows or believes to be false or does not believe to be true, without prejudice to the provisions of section 5, he shall, on conviction, be punished with fine which may extend upto fifteen thousand rupees.