Interest under Section 234A accrues as simple interest monthly or part-month for delayed filing of return. Rate of interest under Section 234A is simple interest at the rate of one percent per month or part thereof, applied to tax liabilities arising from ... Summary
Interest under Section 234A accrues as simple interest monthly or part-month for delayed filing of return.
Rate of interest under Section 234A is simple interest at the rate of one percent per month or part thereof, applied to tax liabilities arising from delayed filing of income tax returns, accruing for each month or part of a month and calculated as simple (not compound) interest.
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