Calculation of interest u/s 119A - period, round off, month, whole month

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....on the following points:- (a) If the period for which interest has to be calculated falls entirely before 1-1-1975 but the interest comes to be calculated now i.e. after 1-1-1975, will the new Rule 119A apply For example, if the return of income for assessment year 1973-74 was filed in January, 1974 and the assessment is completed in March, 1975, will the interest u/s 139 for the delay in filin....

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....luding 31st December, 1974, interest should be calculated as if the new rule was not in existance. As from 1st January, 1975 the outstanding arrears as well as the period should be rounded off, as provided under the new rules, and interest calculated accordingly. As far as the second issue is concerned, the words of the rule are very clear. The rule lays down that the period for which interest ....