Section 5(7) in West Bengal Stamp (Prevention of Undervaluation of Instruments) Rules, 2001
(7)On receipt of the notice from the Collector as referred to in sub-rule (5), the person to whom the notice has been issued or his authorised agent, shall deposit the deficit amount of stamp duty within the date specified in the notice in the same manner as referred to in sub-rule (9) of rule 3. If the person liable to pay stamp duty under section 29 of the Indian Stamp Act, 1899, does not make such payment within the date aforesaid, he shall be liable to pay an interest at the rate of two per centum for each British Calendar month of default from the first day of such month following the month in which such person was required to make payment of deficit duty as prescribed in the aforesaid notice up to the month preceding the month of full payment of such duty.
