Time for payment of tax.-—Increase of tax incase of delinquency.
Section 262
SEC. 262. Time for payment of tax.-—Increase of tax incase of delinquency.—The tax imposed in sections 260 and 261 shall be payable at the end of each calendar quarter and it shall be the duty of every bank or finance-company, within twenty days after the end of each calendar quarter, to make a true and complete return of the amount of gross income derived during the preceding calendar quarter and pay the tax due thereon and if the tax is net paid within the time prescribed herein, the amount of the tax shall be increased by twenty-five per centum, the increment to be a part of the tax. In case of willful neglect to file the return within the period prescribed herein, or in case a false or fraudulent return is willfully made, there shall be added to the tax or to the deficiency tax in case any payment has been made on the basis of such return before the discovery of the falsity or fraud, a surcharge of fifty per centum of the amount. The amount so added to any tax shall be collected at the same time and in the same manner and as part of the tax unless the tax has been paid before the discovery of the falsity or fraud, in which case the amount so added shall bo collected in the same manner as the tax.