Interest on unpaid tax by specified persons accrues monthly from the day after due date until payment. Where a specified person, or its principal officer or trustee, fails to pay tax on accreted income within the time allowed under section 115TD(5), that ... Summary
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Interest on unpaid tax by specified persons accrues monthly from the day after due date until payment.
Where a specified person, or its principal officer or trustee, fails to pay tax on accreted income within the time allowed under section 115TD(5), that person or officer is liable to pay simple interest at a monthly rate on the unpaid tax from the day after the last date for payment until actual payment; specified person is as defined in the Explanation to section 115TD (clause (iia)).
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