https://www.taxtmi.com/highlights?id=79959 Income Tax: Proposed amendment to increase simple interest rate from 1% to 1.5% per month or part thereof on late payment of tax collected at source (TCS) to government account u/s 206C(7) of Income Tax Act. This aligns interest rate with provisions for late deposit of tax deducted at source (TDS) u/s 201(1A). Amendment effective from April 1, 2025 to address difficulty faced by collectee due to late payment of TCS to government. en-us Tue, 30 Jul 2024 21:46:16 +0530 Tue, 30 Jul 2024 21:46:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79959 Income Tax: Proposed amendment to increase simple interest rate from 1% to 1.5% per month or part thereof on late payment of tax collected at source (TCS) to government account u/s 206C(7) of Income Tax Act. This aligns interest rate with provisions for late deposit of tax deducted at source (TDS) u/s 201(1A). Amendment effective from April 1, 2025 to address difficulty faced by collectee due to late payment of TCS to government. Highlights Bill Tue, 30 Jul 2024 21:46:16 +0530 https://www.taxtmi.com/highlights?id=79959