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of <h1>Waiver of interest under section 220(2) for rectification demands disallowing section 87A rebate if paid by 31.12.2025</h1> Tax authority orders waiver of interest under section 220(2) where demands arise from rectification disallowing incorrectly granted rebate under section 87A on incomes chargeable at special rates (not within section 115BAC(1A) computation), provided the demand is paid on or before 31.12.2025. Rectifications that raise demands will not attract interest if paid by that date; failure to pay by then will result in interest under section 220(2) becoming payable from the day following the period specified in section 220(1). The order is issued under the authority's power under section 119.
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