(1) Where any person has, without reasonable cause, failed to file a return of income required by or under sections 166, 172, 191, 193 or 212, the Deputy Commissioner of Taxes may impose upon such person a penalty amounting to 10% (ten percent) of tax imposed on last assessed income which shall be a minimum of Taka 1 (one) thousand, and in the case of a continuing default, a further penalty of Taka 50 (fifty) for every day during which the default continues:

     Provided that such penalty shall not exceed—

(a) in case of a assessee, being an individual, whose income was not assessed previously, Taka 5 (five) thousand;

(b) in case of a assessee, being an individual, whose income was assessed previously, 50% (fifty percent) of the tax payable on the last assessed income or Taka 1 (one) thousand, whichever is higher.

(2) Where any person has, without reasonable cause,—

(a) failed to file or furnish any return, or information required under section 177, the Deputy Commissioner of Taxes may impose a penalty amounting to 10% (ten percent) of tax imposed on last
assessed income or Taka 5 (five) thousand, whichever is higher, and in the case of a continuing default, a further penalty of Taka 1 (one) thousand for every month or fraction thereof during which the default continues;

(b) failed to furnish any certificate required under section 145, the Deputy Commissioner of Taxes may impose a penalty amounting up to Taka 5 (five) thousand, and in the case of a continuing
default, a further penalty of Taka 1 (one) thousand for every month or fraction thereof during which the default continues;

(c) fails to file or furnish any information as required under section 200, in which case the Income-tax authority requiring the information under section 200, may impose a penalty amounting up to Taka 50 (fifty) thousand, and in the case of a continuing default, a further penalty of Taka 500 (five hundred) for every day during which the default continues.