AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

Report No. 12

222. Interest payable by Government.-

(1) The Central Government shall pay simple interest at four per cent. per annum on the amount by which the aggregate sum of any instalments of advance tax paid during any financial year in which they are payable under sections 215 to 221 [All sections embodying any part of section 18A(1), 18A(2), 18A(3) of 18A(4)] exceeds the amount of the tax determined on regular assessment, from the 1st day of April next following the said financial, year to the date.of the regular assessment for the assessment year immediately following the said financial year.'

[Section 18A(5), main para., part]
[Section 18A(5) 2nd proviso]

(2) On any portion of such amount which is refunded under the provisions of sections 215 to 221 [section 18A(1) to (4)] interest shall be payable only up to the date on which refund was made.

[Section 18A(5), 1st proviso]







Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
Powered by Neosys Inc
Information provided on advocatekhoj.com is solely available at your request for informational purposes only and should not be interpreted as soliciting or advertisement