Amendment status not verified — confirm the current text below against the official source.
(l) 12 (2) pe6on whoholds o.may subseqllently hold money for, or on accountof, such dealer, to deposit into a GovernmentTreasury or Stale Bank ofsikkim or any other bank as may be notified by the Govemment under the approp ate head of account, either forthwith upon the money becoming due or lreing hcld orat or withirr the time specified in the nodce so much of the money as is suftjcient to pay thc amount dlle llom such dealer in rcspect of the aiream ol such tax, penalty ol intercst or the whole oIlhe money whei such money is equal to or less than thatamount. A notice underthis section tnay be issucd to any person who holds or may subsequentiy hold aoy money for, or on account oi the dealerjointly with any )thet person, and lor the putposes ofthis section, tl're shares ofthejoinfholders in such account shall bepresumed, until the contraly is ploved. to be equal. A copy olthe notice shall be for\rarded to the dealer at his last known address and in the case ofajoint account, t all the joint-account holders at their last known address. Saveas otherwise provided in this section, every percon Lo t{ hom a notice is issued under this section shall bebourd to comply with such notice. and, in panicular, whete any such norice is jssued to a post office, banking company or insurer, it shall not be necessary forany pass book. deposit rcceipt, policy or any other document to be prcduced for the purpose ofany e trJ. endorsement or the like being made before payment is made, notwitl$tanding any rule, pr'aclice or requircmenl lo lhe contrary. Any claimrespecting any money, which is due or to become due or is being held or may suhsequentlybc held in rolation to which a notice under this section has been issued arising after the datc ofsuch notice. shall be void as against any demand cootained in such notice Where a pe$on to \,rhom a notice underthrs sectjon is sent prcves to the satisfaction of the prescribed authoritl thalthe sum demanded orany palt ther3ofis noldue to the dealer or that l're does not hold an.r money for, oron account of, the dealeror thal lhc nroney demanded or any part thereofis not likely to be due to the dealerorbeheld for, or on account of, the dealer, then. nothirg contailcd in this section shali bedeemed to require such person to deposit any such sum ol pa thereoi as the case may be. (4) (3) (5) (6) 43 (7) Theprescribed aurhority may, atany time, amend orrevoke any notice issued unLler this section ol extend lhe time for making any payment in pulsllance ofsuch noticc' (8) The Government Treasury or the State Bank of Sikkim or any other bank as may be notlfied by fie Governmcnt, shall grant ar receipt for any amount paid incompliance with a notice issued under thjs section and the person so paying the arrrollntshirllbe fully dischalged h orn his liability lo thedealerlo the extentofthe amountsopaid' (9) Any peNon discharying any liability to the dealcrafterreceipl ola nodce under this scction shall be personaliy liable to the extent olhis own liability to the dealer so discharged or to the extent ofthe liabilily ofsuch dealer lor lrny amountdue under this Acl' whi'hever is less' (10) Iithe person to whom a notice undel dlis sectjon is sent fails to make payment in fursunnce thereof, he shall be deemed to be a dezrler in default inrespectolthe arnount sPecilled io the nolice aod fwther proceeding may be taken against him lor the recovery ofthe amount cs ifll wete an arear due fiom him and the notice shall have the same effect as attachment ofdebt' (t 1) The prescribed authority may apply tothecourtin vihosecustody there is money belongingto lhe dealerforpayment oftheentirc amount ofsuch money or' ifit is more lhnn the amount ol tax, penalty or interest due, an amount suffiiient to dischal ge the liability of the amount ol tax' penalty or interest: Provided that any dues exempt from attaclxnent in execution ofa decree ola civjl court under secdon 60 of rhe code of civil Procedure, 1908 (5 of 1908), shall be exempl ftom any payment lequired lo be made under this section.