Consequences of failure to deduct or pay or, collect or pay.

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..... g an employer,- (i) does not deduct or pay; or (ii) does not collect or pay; or (iii) after deducting or collecting fails to pay, the whole or any part of the tax, as required by or under this Act, he shall be deemed to be an assessee in default in respect of such tax in addition to any other consequences which that person may incur under this Act. (2) Any person,- (a) including the prin .....

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..... of the tax or after deducting or collecting fails to pay the tax as required under this Act, he shall be liable to pay simple interest- (i) at 1% for every month or part of a month on the amount of such tax from the date on which such tax was deductible or collectible to the date on which such tax is deducted or collected; and (ii) at 1.5% for every month or part of a month on the amount of su .....

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..... cted or collected, the amount of the tax together with the amount of simple interest on it as referred to in sub-section (3)(a) shall be a charge upon all the assets of the person referred to in sub-section (1). (5) The order shall not be made under sub-section (1) deeming a person to be an assessee in default for failure to deduct or collect the whole or any part of the tax from any person-- ( .....

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