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of <h1>Amendment to Section 234A: New Interest Provisions for Late Income Tax Returns Effective April 2022</h1> Clause 64 of the Finance Bill, 2022 proposes amendments to section 234A of the Income-tax Act, concerning interest for delays in filing income tax returns. The amendment introduces sub-section (8A) to the existing provisions, mandating simple interest for late or non-filing of returns. Additionally, Explanation 2 is revised to clarify that the 'tax on total income' excludes additional income-tax payable under sections 140B or 143. These changes are set to be effective from April 1, 2022, refining the calculation of interest and tax obligations for taxpayers.
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