https://www.taxtmi.com/circulars?id=10383 Applicability of Rule 119A is confined to periods on or after the effective date; interest for periods up to and including 31 December 1974 must be calculated as if the new rule did not exist. Outstanding arrears on the effective date may be subject to the new rule, but only for the portion of the period after that date. The rule mandates rounding the period to whole months, ignoring any fractional month however long. en-us Tue, 28 Oct 1975 00:00:00 +0530 Fri, 17 Jun 2011 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10383 Applicability of Rule 119A is confined to periods on or after the effective date; interest for periods up to and including 31 December 1974 must be calculated as if the new rule did not exist. Outstanding arrears on the effective date may be subject to the new rule, but only for the portion of the period after that date. The rule mandates rounding the period to whole months, ignoring any fractional month however long. Circulars Income Tax Tue, 28 Oct 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10383