Interest on tax shortfall accrues monthly from the day after payment was due until actual payment is made. An assessee is liable to pay simple interest at a monthly rate on any shortfall in amounts payable under the Code from the day after the due date until ... Summary
Interest on tax shortfall accrues monthly from the day after payment was due until actual payment is made.
An assessee is liable to pay simple interest at a monthly rate on any shortfall in amounts payable under the Code from the day after the due date until actual payment; the liability is computed at periodical intervals.
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