As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
This query is : Resolved
28 November 2024
2019 2019201937119650496T 287610.0 11-Mar-2020 CPC
2018 2019201837016444242T 256440.0 15-Apr-2019 CPC
How to calculate the interest for the outstanding
2018 2019201837016444242T 256440.0 15-Apr-2019 CPC
How to calculate the interest for the outstanding
Dhirajlal Rambhia
(Expert)
29 November 2024
As per sec. 220(2) IT act, the interest is calculated on the outstanding demand (unpaid tax) from the date of the demand notice until the date the tax is paid at 1% simple interest rate for month or part of month.
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