https://www.taxtmi.com/acts?id=17942 Where a domestic company and its principal officer fail to pay the tax on distributed income within the prescribed time, both are liable for simple interest at the statutory monthly rate on the unpaid tax from the day after the payment due date until actual payment; the provision operates as a statutory amendment addressing interest for delayed payment in relation to buy back of shares. en-us Wed, 22 May 2013 13:59:34 +0530 Mon, 23 Jun 2025 13:12:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17942 Where a domestic company and its principal officer fail to pay the tax on distributed income within the prescribed time, both are liable for simple interest at the statutory monthly rate on the unpaid tax from the day after the payment due date until actual payment; the provision operates as a statutory amendment addressing interest for delayed payment in relation to buy back of shares. Act-Rules Income Tax Wed, 22 May 2013 13:59:34 +0530 https://www.taxtmi.com/acts?id=17942