Section 234G of the Income Tax Act: Fee for default relating to statement or certificate
(1) Without prejudice to the provisions of this Act, where,—
(a) the research association, university, college or other institution referred to in clause (ii) or clause (iii) or the company referred to in clause (iia) of sub-section (1) of section 35 fails to deliver or cause to be delivered a statement within the time prescribed under clause (i), or furnish a certificate prescribed under clause (ii) of sub-section (1A) of that section; or
(b) the institution or fund fails to deliver or cause to be delivered a statement within the time prescribed under clause (viii) of sub-section (5) of section 80G, or furnish a certificate prescribed under clause (ix) of the said sub-section,
it shall be liable to pay, by way of fee, a sum of two hundred rupees for every day during which the failure continues.
(2) The amount of fee referred to in sub-section (1) shall,—
(a) not exceed the amount in respect of which the failure referred to therein has occurred;
(b) be paid before delivering or causing to be delivered the statement or before furnishing the certificate referred to in sub-section (1).]