FORM NO. 4 - Notice of demand - Banking Cash Transaction Tax Rules, 2005

FORM NO. 4 [See rule 9 of Banking Cash Transaction Tax Rules, 2005] Notice of demand BCTTS-4 To ...................................... ...................................... Status...................…. ...................................... PAN......................... 1. This is to give you notice that for the financial year.....a sum of Rs. ............, details of which are given on the reverse, has been determined to be payable by you. 2. The amount should be paid to the Manager, authorised bank or State Bank of India or Reserve Bank of India at.....within 30.......days of the service of this notice. The previous approval of the Additional/Joint Commissioner of Income-tax has been obtained for allowing a period of less than 30 days for the payment of the above sum. A challan is enclosed for the purpose of payment. 3. If you do not pay the amount within the period specified above, you shall be liable to pay simple interest at one per cent for every month or part of a month from the date commencing after the end of the period aforesaid in accordance with sub-section (2) of section 220 of the Income-tax Act read with section 106 of the Finance Act, 2005. 4. If you do not pay the amount of the tax within the period specified above, penalty (which may be as much as the amount of tax in arrear) may be imposed upon you after giving you a reasonable opportunity of being heard in accordance with section 221 of the Income-tax Act read with section 106 of the Finance Act, 2005. 5. If you do not pay the amount within the period specified above, proceedings for the recovery thereof will be taken in accordance with sections 222 to 227, 229 and 232 of the Income-tax Act, 1961 read with section 106 of the Finance Act, 2005. 6. If you intend to appeal against the assessment or penalty, you may present an appeal under section 107 of Chapter VII of the Finance Act, 2005, to the Commissioner of Income-tax (Appeals)......within thirty days of the receipt of this notice, in Form No. 5 as prescribed in rule 11, duly stamped and verified as laid down in that Form. 7. The amount has become due as a result of the order of the Commissioner of Income-tax (Appeals) under section 107 of the Chapter VII of the Finance Act, 2005. If you intend to appeal against the aforesaid order, you may present an appeal under section 108 of Chapter VII of the said Act to the Income-tax Appellate Tribunal.....within sixty days of the receipt of that order, in Form No. 6, as prescribed in rule 12, duly stamped and verified as laid down in that Form. Place .................... ........................................ Date ..................... Assessing Officer ........................................ Address Notes : 1. Delete inappropriate paragraphs and words. 2. If you wish to pay the amount by cheque, the cheque should be drawn in favour of the Manager, authorised bank or State Bank of India or Reserve Bank of India. 3. If you intend to seek extension of time for payment of the amount or propose to make the payment by instalments, the application for such extension or as the case may be, permission to pay by instalments, should be made to the Assessing Officer before the expiry of the period specified in paragraph 2. Any request received after the expiry of the said period will not be entertained in view of the specific provisions of sub-section (3) of section 220 of the Income-tax Act.