https://www.taxtmi.com/acts?id=3234 Where a domestic company and its principal officer fail to pay the tax on distributed profits within the prescribed time, both are liable to pay simple interest for every month or part thereof on the unpaid tax from the day after the due date until actual payment; the current statutory rate is one per cent per month as substituted by subsequent amendments. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 14:39:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3234 Where a domestic company and its principal officer fail to pay the tax on distributed profits within the prescribed time, both are liable to pay simple interest for every month or part thereof on the unpaid tax from the day after the due date until actual payment; the current statutory rate is one per cent per month as substituted by subsequent amendments. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3234