(1) Every person registered under Section 18 shall furnish a return in such from, in such manner, for such period, by such dates and to such authority as may be prescribed.

(2) Every such return shall be accompanied by a treasury challan in proof of payment of full amount of tax due according to the return. A return without such proof of payment shall not be deemed to have been duly filed.

(3) Where a person has without reasonable cause failed to file such a return within the prescribed time, the Commissioner may, after giving him a reasonable opportunity of being hard, impose upon him a penalty not exceeding one hundred rupees for each day of delay.

(4) The State Government may, subject to such conditions as may be specified, exempt any person or class of persons from furnishing returns.