As per announcement by FM on 24 Mar 2020, for delayed payments of TDSmade between 20th March 2020 and 30th June 2020, reduced interest rate at 9% instead of 12 %/18 % per annum ( i.e. 0.75% per month instead of 1/1.5 percent per month) will be charged for this period. No late fee/penalty shall be charged for delay relating to this period.
The query is if a taxpayer had not deducted/ paid TDS pertaining to July 2019 and wishes to pay the same now (post March 30 2020), will the reduced interest rates/ waiver of penalty be applicable to such tax payer?
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