Mandatory & Penal Interest - Section 234A

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....e month simple interest. (b) Period:- The interest will be payable for the period commencing from the date next following the due date specified u/s 139(1) and ends on: (i) In case where ROI is filed, the date of filing of ROI, (ii) In case where ROI is not filed, the date of completion of assessment u/s 144/147/153A. Note:- Part of the month shall be considered as full month. (c) Amount....

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....ome declared in ROI". 4. Interest payable under this section shall be reduced by the interest. If any, paid u/s 140A or otherwise. 5. In case where an assessee has failed to furnish ROI, then interest u/s 234A shall be applicable. 6. For computing interest, "Tax" means "Income Tax including surcharge & Education Cess". 7. Where as a result of an order made u/s 154/ 250/ 254/ 260A/262/263/264 o....