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of <h1>Amendments to Section 22D of the Wealth-tax Act: New Payment Rules, Interest Rates, and Penalties Explained.</h1> The amendments to Section 22D of the Wealth-tax Act, 1957, effective from October 1, 1984, introduce several changes. Sub-section (2A) requires the assessee to pay additional wealth-tax within 35 days of receiving the order and provide proof to the Settlement Commission. Sub-section (2B) allows for an extension or installment payments if the assessee demonstrates sufficient reasons and provides security. Sub-section (2C) imposes a 15% annual interest on unpaid amounts. Sub-section (2D) permits recovery and penalties for non-payment. Sub-section (6A) imposes interest on unpaid tax under sub-section (4). Sub-section (8) clarifies that Section 17A does not apply to certain orders.
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