(1) An owner may be required to keep such accounts and to submit such returns at such intervals and to such authority as may be prescribed.
(2) If any owner fails, without reasonable cause, to submit any return or pay the tax due according to such return within fifteen days of the due date, the assessing authority may direct that such owner shall, by way of penalty, pay in addition to the amount of tax payable by him, a sum not exceeding five rupees for each day of the period during which the default continues.
(3) Any penalty imposed under sub-section (2) shall be without prejudice to any punishment that may be imposed under the provision of section 23.
(4) If the prescribed authority is satisfied that the tax has not been correctly levied charged and paid, he may, after giving the owner a reasonable opportunity of being heard. proceed to levy the amount of tax due and recover the same.