Interest for delayed net-wealth returns accrues monthly and increases tax demand until return is furnished or assessment completed.

Insertion of section 17B requires payment of simple interest on defaults in furnishing net-wealth returns: interest runs from the day after the due date until filing or completion of assessment and applies to tax payable on net wealth as determined on regular assessment, excluding additional wealth-tax under section 18D; interest is reduced by interest already paid under the relevant provision and parallel rules apply to returns furnished after notices and to increases or reductions following later orders, with corresponding demand notices or refunds.

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