Income Tax Act, 1961
Section 272BB. PENALTY FOR FAILURE TO COMPLY WITH THE PROVISIONS OF SECTION 203A.
(1) If a person fails to comply with the provisions of section 203A, he shall, on an order passed by the Assessing Officer pay, by way of penalty, a sum which may extend to five thousand rupees.
(2) No order under sub-section (1) shall be passed unless the person on whom the penalty is proposed to be imposed is given an opportunity of being heard in the matter.