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of <h1>Finance Act Amendment: Section 35A Introduces Interest for Late Foreign Travel Tax Payments; Sections 38 and 38A Detail Penalties and Recovery.</h1> The amendment to the Finance Act, 1979, introduces Section 35A, mandating interest for late payment of foreign travel tax by carriers or other responsible parties, with rates between 20% and 30% per annum. Section 38 is revised to impose penalties for non-payment, ranging from one-fifth to three times the unpaid tax amount, and additional penalties for rule breaches. Section 38A outlines recovery methods for unpaid taxes, interest, or penalties, allowing authorities to deduct amounts due or recover them as arrears of land revenue, ensuring compliance with the foreign travel tax obligations.
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