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The Interest-tax Act

An Act to impose a special tax on interest in certain cases.
1974
List of Chapters & Sections

  1. All sections

  2. 1
     Short title and extent
  3. 2
     Definitions
  4. 3
     Tax authorities
  5. 4
     Charge of tax
  6. 5
     Scope of chargeable interest
  7. 6
     Computation of chargeable interest
  8. 7
     Return of chargeable interest
  9. 8
     Assessment
  10. 9
     Self-assessment
  11. 10
     Interest escaping assessment
  12. 10A
     Time limit for completion of assessments and re-assessments
  13. 11
     Advance payment of interest-tax
  14. 12
     Interest for default in furnishing return of chargeable interest
  15. 12A
     Interest for default in payment of interest-tax in advance
  16. 12B
     Interest for deferment of interest-tax payable in advance
  17. 13
     Penalty for concealment of chargeable interest
  18. 14
     Opportunity of being heard
  19. 15
     Appeals to the Commissioner (Appeals)
  20. 15A
     Omitted
  21. 16
     Appeals to Appellate Tribunal
  22. 17
     Rectification of mistakes
  23. 18
     Interest-tax deductible in computing total income under the Income-tax Act
  24. 19
     Revision of order prejudicial to revenue
  25. 20
     Revision of orders by Commissioner
  26. 21
     Application of provisions of Income-tax Act
  27. 22
     Income-tax papers to be available for the purposes of this Act
  28. 23
     Failure to comply with notices
  29. 24
     False statements
  30. 25
     Wilful attempt to evade tax, etc
  31. 26
     Abetment of false returns, etc
  32. 26A
     Offences by credit institutions
  33. 26B
     Institution of proceedings and composition of offences
  34. 26C
     Power of credit institutions to vary certain agreements
  35. 27
     Power to make rules
  36. 28
     Power to exempt
  37. 29
     Power to remove difficulty
  38. 30
     Repealed