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of <h1>CBDT Clarifies No Interest u/s 17B for Self-Assessment Tax Paid Before Due Date, Aligns Wealth-tax with Income Tax Act.</h1> Interest under Section 17B of the Wealth-tax Act, 1957 is charged for default in furnishing a return of net wealth. Previously, interest was charged on the self-assessment tax paid before the due date. Following a Supreme Court decision regarding a similar provision in the Income Tax Act, the Central Board of Direct Taxes clarified that no interest under Section 17B should be charged on self-assessment tax paid before the due date. This aligns the Wealth-tax Act with the Income Tax Act, ensuring interest is only on unpaid tax amounts post-due date. Officers are instructed to comply with this clarification.
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