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of <h1>New Accounting Code for Interest Tax Collection Established Under Interest Tax Act, 1974 with Updated Sub-Heads.</h1> The Board, in consultation with the Comptroller and Auditor General of India, has established a new accounting code for the collection of Interest Tax under the Interest Tax Act, 1974. This will be categorized under the major head '028 other taxes on Income and Expenditure' with a new minor head 'Collection under Interest Tax Act, 1974.' Sub-heads include advance and ordinary collections, miscellaneous collections, and refunds for both company and non-company banks. Necessary updates to the accounting list will be issued separately by the Comptroller and Auditor General of India.
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