# The Finance Act, 2016, Section 172: Penalty for failure to furnish statement

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/172/

## Text

Penalty for failure to furnish statement. 172. Where an [assessee or e-commerce operator] fails to furnish the statement within the time prescribed under sub-section (1) or sub-section (3) of section 167, he shall be liable to pay a penalty of one hundred rupees for each day during which the failure continues. 1. Substituted for "assessee" by the Finance Act, 2020, w.e.f. 1-4-2020

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