Amendment of section 206C.

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....o receives any amount as consideration for sale of- (i) a motor vehicle; or (ii) any other goods, as may be specified by the Central Government by notification in the Official Gazette, of the value exceeding ten lakh rupees, shall, at the time of receipt of such amount, collect from the buyer, a sum equal to one per cent. of the sale consideration as income-tax."; (b)....

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....ually paid and such interest shall be paid", the following shall be substituted, namely:-- "interest- (a) at the rate of one per cent. for every month or part thereof on the amount of such tax from the date on which such tax was collectible to the date on which such tax is collected; and (b) at the rate of one and one-half per cent. for every month or part thereof on the....

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.... letter "sub-section (1) or sub-section (1C)", at both the places where they occur, the words, brackets, figures and letters "sub-section (1), sub-section (1C) or sub-section (1H)" shall be substituted; (ii) after sub-section (11), the following sub-section shall be inserted, namely:-- "(12) Notwithstanding anything contained in this section, no collection of tax shall be made or....