Tax demand payment rules impose monthly interest, regulate default status, and allow conditional relief, instalments, and appellate protection. Section 411 requires payment of a tax demand, other than advance tax, ordinarily within 30 days of service and imposes simple interest at 1% for every ... Summary
Tax demand payment rules impose monthly interest, regulate default status, and allow conditional relief, instalments, and appellate protection.
Section 411 requires payment of a tax demand, other than advance tax, ordinarily within 30 days of service and imposes simple interest at 1% for every month or part of a month on delayed payment. The Assessing Officer may allow more time or instalments, while non-payment or instalment default results in deemed default. Interest may be recomputed when the underlying demand changes and may be reduced or waived for genuine hardship, uncontrollable circumstances, and cooperation. Pending appeal, disputed demand may be protected from default status. Relief also applies where foreign-income remittance is legally restricted.
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