63[Self-assessment.
15B. (1) Where any tax
is payable on the basis of any return furnished under section 14 or section 15
or in response to a notice under clause (i) of sub-section (4) of
section 16 or under section 17, after taking into account the amount of tax, if
any, already paid under any provision of this Act, the assessee shall be liable
to pay such tax, together with interest payable under any provision of this
Act, for any delay in furnishing the return, before furnishing the return and
the return shall be accompanied by proof of payment of such tax and interest.
Explanation.—Where the amount paid by the assessee under this sub-section falls
short of the aggregate of the tax and interest as aforesaid, the amount so paid
shall first be adjusted towards the interest payable as aforesaid and the
balance, if any, shall be adjusted towards the tax payable.
(2) After the regular assessment under section
16 has been made, any amount paid under sub-section (1) shall be deemed to have
been paid towards such regular assessment.
(3) If any assessee fails to pay the whole or
any part of such tax or interest or both in accordance with the provisions of
sub-section (1), he shall, without prejudice to any other consequences which
he may incur, be deemed to be an assessee in default in respect of the tax or
interest or both remaining unpaid and all the provisions of this Act shall
apply accordingly.]
64[(4) The provisions of this section as they
stood immediately before their amendment by the Direct Tax Laws (Amendment)
Act, 1987 (4 of 1988), shall apply to and in relation to any assessment for the
assessment year commencing on the 1st day of April, 1988, or any earlier
assessment year and references in this section to the other provisions of this
Act shall be construed as references to those provisions as for the time being
in force and applicable to the relevant assessment year.]