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interest u/s 220(2) of the Income TAx Act

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(Querist)
29 March 2009
Please confirm whether interest is payable on a demand including interest u/s 234 B.

Whether Interest on Interest can be charged.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
29 March 2009 1st para. Answer is Yes. Section 220(2) says If the amount demanded as per notice u/s 156 is not paid with in the period specified in that notice, the assessee shall be liable to pay simple interest @ 1%,w.e.f 8/8/2003,per month.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
29 March 2009 2nd para. Answer is yes. Citation:- 1)CIT V Narendra Doshi(2002) 254 ITR 606 (SC).
2) Modipan Ltd V CIT (2004) 270 ITR 257 (DEL).



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s zafarulla khan

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s zafarulla khan (Expert)
01 April 2009 yes i agree with Mr BCW.
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Vikky Vasvani

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Vikky Vasvani (Expert)
16 January 2015 What is Interest asked in TDS defualt Statement notice.

Amt. contains in - Interest u/s 220(2)

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