Liability in case of default

In the circumstance if any proprietor either fails to file return under section 7 or to pay the tax under section 8 or pay the amount of tax assessed or penalty imposed under section 9 within the due or extended date he shall be liable to pay, by way of penalty a sum calculated at the rate not exceeding Rs. twenty for every day of default or an interest at the rate of two and half percentum of the amount of tax due for every month or part thereof whichever is higher.