FORM NO. 2 - Notice of demand under Chapter VIII of the Finance Act, 2016 - Equalisation levy Rules, 2016

FORM NO. 2 [See rule 7 of Equalisation levy Rules, 2016] Notice of demand under Chapter VIII of the Finance Act, 2016 EL-2 To . . . Status . PAN . 1. This is to give you notice that for the financial year a 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 or State Bank of India or Reserve Bank of India at .. within thirty days of the service or this notice. The previous approval of the Additional/ 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 the end of the period aforesaid in accordance with section 220(2) of the Income-tax Act, 1961 read with section 178 of the Finance Act, 2016. 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 levy in arrear) may be imposed upon you after giving you a reasonable opportunity of being heard in accordance with section 221 of the Income-tax Act, 1961 read with section 178 of the Finance Act, 2016, 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, 227, 229 and 232 of the Income-tax Act, 1961 read with section 178 of the Finance Act, 2016. 6. If you intend to appeal against the penalty, you may present an appeal under section 174 of the Finance Act, 2016, to the Commissioner of Income-tax (Appeals) within thirty days of the receipt of this notice, in Form No. 3 as prescribed in 1 [ rule 8 of the Equalisation levy Rules, 2016 ] . 7. The amount has become due as a result of the order of the Commissioner of Income-tax (Appeals) under section 174 of the Finance Act, 2016, If you intend to appeal against the aforesaid order, you may present an appeal under section 175 of the said Act to the Income-tax Appellate Tribunal ....... within sixty days of the receipt of that order, in Form No. 4, as prescribed in 2 [ rule 9 of the Equalisation Rules, 2016 ] . Place .. Date .. Assessing Officer .. Address Notes: 1. Delete inappropriate paragraphs and words. 2. If you wish to pay the amount by cheque, the Cheque Shall be drawn in favour of the Manager, authorised Bank or State Bank of India or Reserve Bank of India. 3. If you intend to seek extension of time for payment of the amount or propose to make the payment by instalments, the application for such extension or as the case may be, permission to pay by instalments, shall be made to the Assessing Officer before the expiry of the period specified in paragraph 2. Any request received after the expiry of the said period will not be entertained in view of the specific provisions of section 220(3) of the Income-tax Act, 1961. *************** NOTES:- 1. Substituted vide Notification No. 87/2020 dated 28-10-2020 before it was read as, rule 8, duly stamped and verified as laid down in that form 2. Substituted vide Notification No. 87/2020 dated 28-10-2020 before it was read as, rule 9, duly stamped and verified as laid down in that form