Interest-Tax Act, 1974

Section - 1 - Short title and extent

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Section - 2 - Definitions

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Section - 3 - Tax authorities

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Section - 4 - Charge of tax

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Section - 5 - Scope of chargeable interest

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Section - 6 - Computation of chargeable interest

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Section - 7 - Return of chargeable interest

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Section - 8 - Assessment

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Section - 9 - Self-assessment

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Section - 10 - Interest escaping assessment

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Section - 10A - Time limit for completion of assessments and reassessments

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Section - 11 - Advance payment of interest-tax

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Section - 12 - Interest for default in furnishing return of chargeable interest

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Section - 12A - Interest for default in payment of interest-tax in advance

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Section - 12B - Interest for deferment of interest-tax payable in advance

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Section - 13 - Penalty for concealment of chargeable interest

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Section - 14 - Opportunity of being heard

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Section - 15 - Appeals to the Commissioner Appeals

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Section - 15A - Transfer of certain pending appeals

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Section - 16 - Appeals to Appellate Tribunal

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Section - 17 - Rectification of mistakes

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Section - 18 - Interest-tax deductible in computing total income under the Income-tax Act

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Section - 19 - Revision of order prejudicial to revenue

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Section - 20 - Revision of orders by Commissioner

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Section - 21 - Application of provisions of Income-tax Act

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Section - 22 - Income-tax papers to be available for the purposes of this Act

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Section - 23 - Failure to comply with notices

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Section - 24 - False statements

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Section - 25 - Wilful attempt to evade tax, etc

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Section - 26 - Abetment of false returns, etc

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Section - 26A - Offences by credit institutions

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Section - 26B - Institution of proceedings and composition of offences

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Section - 26C - Power of credit institutions to vary certain agreements

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Section - 27 - Power to make rules

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Section - 28 - Power to exempt

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Section - 29 - Power to remove difficulty

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Section - 30 - Consequential amendments

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APPENDIX - CLARIFICATION ON APPLICABILITY OF INTEREST-TAX ACT TO HIRE PURCHASE TRANSACTIONS

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