(1) Where any person, not having income from tangible property, has, without reasonable cause, failed to comply with the provisions of any order or rule made in pursuance of, or for the purposes of sub-section (3) of sectiohn 72, the Deputy Commissioner of Taxes, may impose upon him a penalty in the following manner, namely:—

(a) an amount not exceeding one and a half times the amount of tax payable by him; and

(b) Taka 5 (five) thousand where the total income of such person does not exceed the tax free limit.

(2) Where any person, having income from tangible property, has, without reasonable cause, failed to comply with the provisions of any order or rule made in pursuance of, or for the purposes of sub-section (3) of section 72, the Deputy Commissioner of Taxes, may impose upon him a penalty of 50% (fifty percent) of taxes payable on tangible property income or 5 (five) thousand Taka,
whichever is higher.