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of <h1>New 2006 Order Allows Tax Interest Waivers for Delays u/ss 234A, 234B, 234C in Specific Cases.</h1> The Waiver or Reduction of Interest Order of 2006, issued by the Central Board of Direct Taxes, empowers the Chief Commissioner and Director General of Income-tax to waive or reduce interest charged under sections 234A, 234B, and 234C of the Income-tax Act, 1961. This applies to specific cases, such as delays due to search and seizure, unexpected income, retrospective law changes, or unavoidable circumstances preventing timely filing. The waiver is contingent upon the filing of returns and payment of taxes due. Previous orders from 1996 and 1997 are superseded, allowing reconsideration of past petitions under this new directive.
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