(1) Taxpayer who does not file property statement within the period specified in sub-section (1) of section 7 shall be fined up to five thousand rupees.

(2) According to the order under section 8 A person who does not file the property statement within the deadline will be fined at the rate of ten percent of the tax per annum.

(3) According to sub-section (2), the tax officer may take any or all of the following actions to the taxpayer who does not file the property statement:-

(a) Seizing or confiscating movable or immovable property of the taxpayer,

(b) Bond in the name of the taxpayer in any government office or organized organization owned by the Government of Nepal or such office or organization to the taxpayer. Stopping the amount to be paid,

(c) Stopping the transaction or export of the taxpayer.

(4) Within seven days of starting the action according to sub-section (3), the tax officer should take that action. The information should be given to the Director General.

(5) Taxpayers who do not file the property statement within the period specified in subsection (1) of section 7 or section 8, in order to determine the tax in accordance with subsection (2) of section 10, subsection (3) of the same section ) the taxpayer who submits the asset statement only after the deadline or who does not submit the asset statement will be fined at the rate of fifteen percent of the annual tax. After deducting the advance tax that has been filed from the amount, the amount of the fine will be fixed only from the amount of the tax that remains to be recovered. While calculating the points, it will be calculated from the date that exceeds three months after the end of the financial year and the penalty points will not exceed fifty percent of the tax payable by the taxpayer.