Keeping of accounts and submission of returns.

Tax196333 sections

Statutory text

(1) An owner may be required to keep such accounts and to submit such returns at such intervals and to such authority as may be prescribed : 1[Provided that an owner who has opted to pay the tax in lump sum shall not be liable to keep accounts and to submit returns.] 2[x x x x]. 3[(4) If the assessing authority is satisfied that the tax has not been correctly levied, charged and/or paid in the prescribed manner or the owner has failed to furnish the return within the prescribed period, he shall after giving the owner a reasonable opportunity of being heard, proceed to levy the amount of tax due and recover the same.
(5) The tax assessed or any other amount demanded under the Act shall be paid within 15 days of the service of notice of demand issued in the prescribed form.]

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