Amendment of section 201

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Full Text of the Document

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....of sub-section (1), if any such person, principal officer or company as is referred to in that sub-section does not deduct the whole or any part of the tax or after deducting fails to pay the tax as required by or under this Act, he or it shall be liable to pay simple interest,— (i) at one per cent. for every month or part of a month on the amount of such tax from the date on which such tax w....