Interest computation and waiver: Board may prescribe calculation and limited relief reducing or refunding interest under specified conditions. The Board is empowered to prescribe the manner of computation of interest payable by or to an assessee and related matters, and to prescribe circumstances ... Summary
Interest computation and waiver: Board may prescribe calculation and limited relief reducing or refunding interest under specified conditions.
The Board is empowered to prescribe the manner of computation of interest payable by or to an assessee and related matters, and to prescribe circumstances and procedures for providing relief by reducing or refunding interest paid, subject to an aggregate cap equal to fifty per cent. of the total interest payable.
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