(a) Any person who shall wilfully make a false and fraudulent return of net income made taxable by this act shall be guilty of willful and corrupt perjury, and upon conviction thereof, shall be subject to punishment as provided by law. Such penalty shall be in addition to any other penalties imposed by this act.

(b) Any person who wilfully fails, neglects, or refuses to make a report, or to pay the tax as herein prescribed, or who shall refuse to permit the department to examine the books, papers and records of any association liable to pay tax under this act, shall be guilty of a misdemeanor, and upon conviction thereof, shall be sentenced to pay a fine not exceeding one thousand dollars ($1,000) and costs of prosecution, or to undergo imprisonment not exceeding six (6) months, or both, in the discretion of the court. Such penalty shall be in addition to any other penalties imposed by this act.