Consequences of failure to deduct or pay or, collect or pay.

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.... (b) referred to in section 392(2)(a), being an employer,- (i) does not deduct or pay; or (ii) does not collect or pay; or (iii) after deducting or collecting fails to pay, the whole or any part of the tax, as required by or under this Act, he shall be deemed to be an assessee in default in respect of such tax in addition to any other consequences which that person ma....

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....tion (1), if any person, as referred to in that sub-section does not deduct or collect the whole or any part of the tax or after deducting or collecting fails to pay the tax as required under this Act, he shall be liable to pay simple interest- (i) at 1% for every month or part of a month on the amount of such tax from the date on which such tax was deductible or collectible to the date o....

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....ub-section (1), the interest shall be paid by the person as per such order. (4) Where the tax has not been paid after it is deducted or collected, the amount of the tax together with the amount of simple interest on it as referred to in sub-section (3)(a) shall be a charge upon all the assets of the person referred to in sub-section (1). (5) The order shall not be made under sub-section (1) ....