The Interest-tax Act, 1974
Central Act ยท Act 45 of 197435 provisions
The enactment
| Long title | An Act to impose a special tax on interest in certain cases. |
|---|---|
| Type | Act |
| Citation | Act 45 of 1974 |
| Year | 1974 |
| Jurisdiction | Central |
| Ministry | Ministry of Finance |
| Status | In force as published by the source |
| Provisions published | 35 |
| Subjects | taxation |
Full text, provision by provision
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- Section 1 Short title and extent.
- Section 2 Definitions.
- Section 3 Tax authorities.
- Section 4 Charge of tax.
- Section 5 Scope of chargeable interest.
- Section 6 Computation of chargeable interest.
- Section 7 Return of chargeable interest.
- Section 8 Assessment.
- Section 9 Self-assessment.
- Section 10 Interest escaping assessment.
- Section 10A Time limit for completion of assessments and re-assessments.
- Section 11 Advance payment of interest-tax.
- Section 12 Interest for default in furnishing return of chargeable interest.
- Section 12A Interest for default in payment of interest-tax in advance.
- Section 12B Interest for deferment of interest-tax payable in advance.
- Section 13 Penalty for concealment of chargeable interest.
- Section 14 Opportunity of being heard.
- Section 15 Appeals to the Commissioner (Appeals).
- Section 16 Appeals to Appellate Tribunal.
- Section 17 Rectification of mistakes.
- Section 18 Interest-tax deductible in computing total income under the Income-tax Act.
- Section 19 Revision of order prejudicial to revenue.
- Section 20 Revision of orders by Commissioner.
- Section 21 Application of provisions of Income-tax Act.
- Section 22 Income-tax papers to be available for the purposes of this Act.
- Section 23 Failure to comply with notices.
- Section 24 False statements.
- Section 25 Wilful attempt to evade tax, etc.
- Section 26 Abetment of false returns, etc.
- Section 26A Offences by credit institutions.
- Section 26B Institution of proceedings and composition of offences.
- Section 26C Power of credit institutions to vary certain agreements.
- Section 27 Power to make rules.
- Section 28 Power to exempt.
- Section 29 Power to remove difficulty.
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