Company : Sol Infotech Pvt. Ltd. Website : www.courtkutchehry.com INTEREST-TAX RULES, 1974 CONTENTS 1. Short title 2. Definitions 3. Form of return of chargeable interest under section 7 4. Estimate of advance tax 5. Form of appeal to the 3[Commissioner (Appeals)] 6 . F o r m of appeal and memorandum of cross-objections to Appellate Tribunal 7. Notice of demand 8. Refund claim INTEREST-TAX RULES, 1974 In exercise of the powers conferred by section 2 7 of the Interest- tax Act, 1974 (45 of 1974), and all other powers enabling it in this behalf, the Central Board of Direct Taxes hereby makes the following rules, namely :- 1. Short title :- These rules may be called the Interest-tax Rules, 1974. 2. Definitions :- 1 [(1) In these rules, unless the context otherwise requires,- (a) "Act" means the Interest-tax Act, 1974 (45 of 1974); (b) "authorised bank" shall have the meaning assigned to it in clause (aa) of sub-rule (1) of rule 2 of the Income-tax Rules, 1962.] (2) All references to "Forms" in these rules shall be construed as references to the forms set out in the Appendix hereto. 1. Substituted by the Interest-tax (Third Amendment) Rules, 1981. 3. Form of return of chargeable interest under section 7 :- The return of chargeable interest required to be furnished under sub-section (1) or sub-section (2) of section 7 of the Act shall be in Form No. 1 and shall be verified in the manner indicated therein. 4. Estimate of advance tax :- Omitted by the Interest-tax (Amendment) Rules, 1992, w.e.f. 31- 8-1992.] 5. Form of appeal to the 3[Commissioner (Appeals)] :- (1) An appeal under section 15 of the Act to the 1[Commissioner (Appeals)] shall be made in Form No. 3 and shall be verified in the manner indicated therein. (2) The form of appeal prescribed by sub-rule (1), the grounds of appeal and the 2 [the credit institution, or where in the case of a non-resident credit institution] the assessment has been made on any person who has been treated as its agent under section 163 of the Income-tax Act, 1961, by such person. 1. Substituted for "Appellate Assistant Commissioner" by the Interest-tax (Amendment) Rules, 1978, w.e.f. 10-7-1978. 2. Substituted for "the scheduled bank, or where in the case of a non-resident scheduled bank, by the Interest-tax (Amendment) Pules, 1992, w.e.f. 31-8-1992. 6. Form of appeal and memorandum of cross-objections to Appellate Tribunal :- (1) An appeal under sub-section (1) or sub-section (2) of section 16 of the Act to the Appellate Tribunal shall be made in Form No. 4 and shall be verified in the manner indicated therein. (2) A memorandum of cross-objections under sub-section (4) of section 16 of the Act to the Appellate Tribunal shall be made in Form No. 5 and shall be verified in the manner indicated therein. 7. Notice of demand :- The notice of demand under sub-section (5) of section 17 of the Act or under section 156 of the Income-tax Act, 1961, as applied to interest-tax under section 21 of the Act shall be made in Form No. 6. 8. Refund claim :- (1)A claim for refund under sub-section (4) of section 17 or under section 239 of the Income-tax Act, 1961, as applied to interest-tax under section 21 of the Act shall be made in Form No. 7. (2) The claim under sub-rule (1) may be presented by the claimant in person or through a duly authorised agent or may be sent by post.