Interest u/s. 75
This query is : Resolved
26 July 2012
Which rate of interest is applicable in the following issue:
Due date payment : 05.10.2010
Actual Date of Payment : 29.09.2011
Rate of Interest up to 31.03.2011 is 13%
Rate of Interest w.e.f. 01.04.2011 is 18%
Please let me know which rate is applicable in the above problem. Can I bifurcate in two part i.e.
Interest for the period 05.10.2010 to 31.03.2011 @ 13%
Interest for the period 01.04.2011 to 29.09.2011 @18%.
Due date payment : 05.10.2010
Actual Date of Payment : 29.09.2011
Rate of Interest up to 31.03.2011 is 13%
Rate of Interest w.e.f. 01.04.2011 is 18%
Please let me know which rate is applicable in the above problem. Can I bifurcate in two part i.e.
Interest for the period 05.10.2010 to 31.03.2011 @ 13%
Interest for the period 01.04.2011 to 29.09.2011 @18%.
27 July 2012
Bifurcate & then pay. You are right
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