https://www.taxtmi.com/acts?id=50029 Amendments empower the Income-tax Officer, upon application, to extend return-filing dates while maintaining chargeability of interest under the substituted sub-section (8). The new sub-section (8) prescribes interest on late or non-filed returns from the relevant commencement date to filing or assessment completion, computed on tax determined on regular assessment less advance tax and TDS, provides an alternate commencement date for certain business incomes, authorises prescribed reduction or waiver of interest, explains treatment for firms, and requires adjustment and refund of interest where tax is later reduced by revision or rectification orders. en-us Mon, 03 Mar 2025 16:33:25 +0530 Mon, 03 Mar 2025 16:33:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50029 Amendments empower the Income-tax Officer, upon application, to extend return-filing dates while maintaining chargeability of interest under the substituted sub-section (8). The new sub-section (8) prescribes interest on late or non-filed returns from the relevant commencement date to filing or assessment completion, computed on tax determined on regular assessment less advance tax and TDS, provides an alternate commencement date for certain business incomes, authorises prescribed reduction or waiver of interest, explains treatment for firms, and requires adjustment and refund of interest where tax is later reduced by revision or rectification orders. Act-Rules F. Acts / Amendment Acts Mon, 03 Mar 2025 16:33:25 +0530 https://www.taxtmi.com/acts?id=50029