Central Government specifies that the rate of interest u/s 17(2)(vi) shall be simple interest at the rate ten per cent. per annum - S.O.92(E) - Income Tax

Central Government specifies that the rate of interest u/s 17(2)(vi) shall be simple interest at the rate ten per cent. per annum NOTIFICATION NO. S.O.92(E) DATED 4-2-1985 In pursuance of sub-clause ( vi ) of clause (2) of section 17 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies that the rate of interest for the purposes of said sub-clause shall be simple interest at the rate ten per cent. per annum. [No. 6149/File No. 133/162/84/TPL]