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        F. Acts / Amendment Acts

        Section 81 - Amendment of section 234A

        Finance Act, 1999
        Chapter III
        DIRECT TAXES
        INCOME-TAX

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        Penalty rate under section 234A reduced, lowering interest charge for delayed income tax payments. The amendment substitutes the words 'two per cent.' with 'one and one-half per cent.' in the specified subsections, changing the penalty interest rate applicable to delayed income tax payments and taking effect from 1 June 1999.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Penalty rate under section 234A reduced, lowering interest charge for delayed income tax payments.

                              The amendment substitutes the words "two per cent." with "one and one-half per cent." in the specified subsections, changing the penalty interest rate applicable to delayed income tax payments and taking effect from 1 June 1999.


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