Section 12A in The Jammu and Kashmir Passengers Taxation Act, 1963
12A. [ Interest on delay in payment of tax etc. - If any amount of tax, penalty or any other sum payable under this Act, except the amount payable under this section, is not paid within the time prescribed or specified in the notice of demand, as the case may be. the person who is in default shall in addition to such tax. penalty or any other sum, pay interest at 2% per month for each month of default.
Explanation 1. - Interest shall be charged for full month and not for a part thereof.Explanation 2. - If tax or any other amount payable under the Act is paid by cheque or draft, the date of encashment of the cheque or the draft, shall be treated to be the date of deposit of tax or such other sum.] [Section 12-A inserted by ibid Section 24.]
