Interest demand u/s 220(2A) - petitioner had delayed in paying ...
Income Tax
April 21, 2022
Interest demand u/s 220(2A) - petitioner had delayed in paying the interest under Sections 234A, 234B and 234C - Earlier, the application for waiver of interest was rejected - The Demand Notice under Section 156 of the Act also stipulated that if the petitioner failed to pay the aforesaid amount within the period of thirty days from the date of the service of the Demand Notice, the petitioner will also be liable to pay a simple interest at 1.5% for every month or part of a month from the date commencing after the end of the period of 30 days in accordance with Section 220(2) of the Income Tax Act, 1961. - As the petitioner failed to pay the amount in time, the petitioner is liable to pay the interest. - HC
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