Interest on late tax payments reduced by amendment, with a prior explanatory provision deemed omitted retrospectively. Amendment to section 234A substitutes the prior prescribed interest rate with one and one-fourth per cent. in sub sections (1) and (3), effective from the ... Summary
Interest on late tax payments reduced by amendment, with a prior explanatory provision deemed omitted retrospectively.
Amendment to section 234A substitutes the prior prescribed interest rate with one and one-fourth per cent. in sub sections (1) and (3), effective from the 1st day of June, 2001; and Explanation 4 is omitted and deemed omitted with effect from the 1st day of April, 1989.
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