Consequenses of Non submission of form 15g with in due date

Hai!!

As per rules of the income tax act, if the assesee received Form 15G/H from the party, assesse obligated to submit the form to the Income Tax department  - before the end of financial year or before first payment of Interest..........which ever is earlier.... if the assesee not submitted the form with in that duedate......what are the consequencies?