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Interest Tax Act
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Section No
Section Heading
1
Short title and extent
2
Definitions
3
Tax authorities
4
Charge of tax
5
Scope of chargeable interest
6
Computation of chargeable interest
7
Return of chargeable interest
8
Assessment
9
Self-assessment
10
Interest escaping assessment
10A
Time limit for completion of assessments and reassessments
11
Advance payment of interest-tax
12
Interest for default in furnishing return of chargeable interest
12A
Interest for default in payment of interest-tax in advance
12B
Interest for deferment of interest-tax payable in advance
13
Penalty for concealment of chargeable interest
14
Opportunity of being heard
15
Appeals to the Commissioner Appeals
15A
Transfer of certain pending appeals
16
Appeals to Appellate Tribunal
17
Rectification of mistakes
18
Interest-tax deductible in computing total income under the Income-tax Act
19
Revision of order prejudicial to revenue
20
Revision of orders by Commissioner
21
Application of provisions of Income-tax Act
22
Income-tax papers to be available for the purposes of this Act
23
Failure to comply with notices
24
False statements
25
Wilful attempt to evade tax, etc
26
Abetment of false returns, etc
26A
Offences by credit institutions
26B
Institution of proceedings and composition of offences
26C
Power of credit institutions to vary certain agreements
27
Power to make rules
28
Power to exempt
29
Power to remove difficulty
30
Consequential amendments
APPENDIX
CLARIFICATION ON APPLICABILITY OF INTEREST-TAX ACT TO HIRE PURCHASE TRANSACTIONS