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of <h1>Securitisation trust and payer liable for 1% monthly simple interest on unpaid distributed income tax from day after due date</h1> Where the person responsible for paying tax on income distributed by a securitisation trust and the trust itself fail to pay tax due under the specified provision within the prescribed time, they are liable to pay simple interest at 1% per month or part of a month on the unpaid tax. Interest accrues from the day after the last due date for payment and continues up to the date the tax is actually paid.
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