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.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
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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