Notice of demand under Securities Transaction Tax: pay tax or incur interest, penalty and recovery proceedings. Notice requiring payment of a determined securities transaction tax sum within 30 days to the authorised bank or depositary; failure to pay attracts simple interest at one per cent per month under section 220(2) read with section 109 and may lead to a penalty (up to the tax arrear) after opportunity to be heard under section 221 read with section 109. Non payment will result in recovery proceedings under sections 222, 227, 229 and 232 read with section 109, while applications for extension or instalments must be made to the Assessing Officer before the payment period expires and specified appeals lie in Forms No.4 and No.5.