The INTEREST-TAX ACT, 1974

Sections

Section 1 — Short title and extent.

(1) This Act may be called the Interest-tax Act, 1974.

(2) It extends to the whole of India.

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  37. 30.[Repealed.]