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of <h1>Taxpayers Can Seek Interest Waiver for Delays Due to Technical Glitches Under Sections 201(1A)(ii) & 206C(7)</h1> The Central Board of Direct Taxes has issued a directive allowing for the waiver or reduction of interest levied under sections 201(1A)(ii) and 206C(7) of the Income-tax Act, 1961, in cases where taxpayers, deductors, or collectors have initiated payments on time but encountered technical issues delaying credit to the government. The Chief Commissioner or Director General of Income-tax may grant waivers after verifying technical glitches. Waiver applications must be submitted within one year of the relevant financial year, and decisions will be made within six months. The order is final and effective immediately.
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