11 November 2010
Interst under Section 201(1A) is 1% and is payable from the date on which such tax was deductible to the date on which such tax is actually paid.
This provision is amended w.e.f. 01/07/2010 as under:
1% from the date on which such tax was deductible to the date on which such tax is actually deducted.
1.5% from the date on which such tax was actually deducted to the date on which such tax is actually paid.
11 November 2010
The interest rates are not declared through circular. The rates are amended in the Act directly. Please see the link which Sanjay has suggested.
Guest
Guest
(Querist)
12 November 2010
Thank You Snajay Sir, Navin Sir and Taxindiaconnect
CAclubindia
