Amendment status not verified — confirm the current text below against the official source.
Where any person fails to pay the tax payable under Section 3 within a period of six months from the date of expiry of the prescribed period for payment of the same, he shall be liable to pay interest on such tax at the rate of twelve per cent per annum, in addition to the additional tax payable under Section 12, until the realisation of the amount: Provided that the interest payable under this Section shall not exceed the amount of tax payable.] Inserted by Finance Act, 2014 (w.e.f. 01/04/2014).