The Interest-tax Act

Short title and extent

Definitions

Tax authorities

Charge of tax

Scope of chargeable interest

Computation of chargeable interest

Return of chargeable interest

Assessment

Self-assessment

Interest escaping assessment

Time limit for completion of assessments and re-assessments

Advance payment of interest-tax

Interest for default in furnishing return of chargeable interest

Interest for default in payment of interest-tax in advance

Interest for deferment of interest-tax payable in advance

Penalty for concealment of chargeable interest

Opportunity of being heard

Appeals to the Commissioner (Appeals)

Omitted

Appeals to Appellate Tribunal

Rectification of mistakes

Interest-tax deductible in computing total income under the Income-tax Act

Revision of order prejudicial to revenue

Revision of orders by Commissioner

Application of provisions of Income-tax Act

Income-tax papers to be available for the purposes of this Act

Failure to comply with notices

False statements

Wilful attempt to evade tax, etc

Abetment of false returns, etc

Offences by credit institutions

Institution of proceedings and composition of offences

Power of credit institutions to vary certain agreements

Power to make rules

Power to exempt

Power to remove difficulty

Repealed

All sections

1[23. Failure to comply with notices.--If any person fails, without reasonable cause, to produce or
cause to be produced, any accounts or documents required to be produced under section 8, he shall pay by
way of penalty, a sum which shall not be less than one thousand rupees, but which may extend to
twenty-five thousand rupees, for each such failure.]

LAWGIST

# 23 Failure to comply with notices