Section 14B in The Punjab Passengers and Goods Taxation Act, 1952
14B. [ Interest on delayed payment. [Inserted by Haryana Act 6 of 2002.]
- Where any tax or penalty is not paid within prescribed time, the owner of the vehicle shall be liable to pay interest at the rate of two per cent per month on the amount of tax and penalty remaining unpaid for a period not exceeding three months, and also additional interest upto two per cent per month for the period of default exceeding three months :Provided that the above provisions shall not be applicable to the arrears of tax and penalty payable prior to the date of commencement of the Punjab Passengers and Goods Taxation (Haryana Amendment) Act, 2002 :Provided further that where the recovery of tax or penalty is stayed by the Appellate Authority, High Court or Supreme Court, the amount of such tax or penalty shall be recoverable with interest at the rate of two per cent per month on the amount ultimately found due and such interest shall be payable on such amount from the date the tax and penalty first become due for the whole of the period, the stay of recovery continued.]
