FORM NO. 7 for Notice of Demand under Section 156 of the Income-Tax Act, 1961. FORM NO. 7 must be used by the Assessing officer for serving a notice of demand on the assessee when any tax , interest, penalty, fine or any other sum is payable by that assessee is consequences of any order passed under the Act.
When any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under this Act, the Assessing Officer shall serve upon the assessee a notice of demand in the prescribed form specifying the sum so payable :
that where any sum is determined to be payable by the assessee or by the deductor under sub-section (1)
of section 143 or sub-section (1)
of section 200A, the intimation under those sub-sections shall be deemed to be a notice of demand for the purposes of this section.
FORM NO. 7
[See rule 15]
Notice of demand under section 156 of the Income-tax Act, 1961
| PAN ______________|
1. This is to give you notice that for the assessment year _________sum of Rs._______details of which are given on the reverse, has been determined to be payable by you.
2. The amount should be paid to the Manager, authorised bank/State Bank of India/Reserve Bank of India at__________within 30 days of the service of this notice. The previous approval of the Joint Commissioner of Income-tax has been obtained for allowing a period of less than 30 days for the payment of the above sum. A challan is enclosed for the purpose of Payment.
3. If you do not pay the amount within the period specified above, you shall be liable to pay simple interest at one per cent for every month or part of a month from the date commencing after end of the period aforesaid in accordance with section 220(2).
4. If you do not pay the amount of the tax within the period specified above, penalty (which may be as much as the amount of tax in arrear) may be imposed upon you after giving you a reasonable opportunity of being heard in accordance with section 221.
5. If you do not pay the amount within the period specified above, proceedings for the recovery thereof will be taken in accordance with sections 222 to 227, 229 and 232 of the Income-tax Act, 1961.
6. If you intend to appeal against the assessment/fine/penalty, you may present an appeal under Part A of Chapter XX of the Income-tax Act, 1961, to the Commissioner of Income-tax (Appeals)
within thirty days of the receipt of this notice, in Form No. 35, duly stamped and verified as laid down in that form.
7. The amount has become due as a result of the order of the Joint Commissioner of Income-tax/Commissioner of Income-tax (Appeals)/Chief Commissioner or Commissioner of Income-tax
under section _________ of the Income-tax Act, 1961. If you intend to appeal against the aforesaid order, you may present an appeal under Part B of Chapter XX of the said Act to the Income-tax Appellate Tribunal__________within sixty days of the receipt of that order, in Form No. 36, duly stamped and verified as laid down in that form.