Interest charged on late payment of interest
This query is : Resolved
26 June 2012
one of my client has received an order under section 201(1) / 201(1A) for FY 2008 2009 demading payment of Interest as given below.
Interest on late payment of TDS. Rs. 1030
Add: Interest on late payment of Rs. 465
Interest
Total amount payable Rs.1500/- (rounded off)
My doubt is under which provision(s) an interest on interest payable can be demanded?
Interest on late payment of TDS. Rs. 1030
Add: Interest on late payment of Rs. 465
Interest
Total amount payable Rs.1500/- (rounded off)
My doubt is under which provision(s) an interest on interest payable can be demanded?
27 June 2012
Interest on interest is a computer generated error. Legally it has no bas.
28 June 2012
I too have the same opinion. Thanks for supporting the same.
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