banner_ad

Interest on Penalty u/s 271(1)(c)

This query is : Resolved 
Profile Image

Profile Image

(Querist)
26 May 2009 We have filled an appeal in Form No. 35 against the order of Dy. Comm. of I. Tax u/s 271(1)(c),

Now we have asked for stay for the payment of the penalty u/s 271(1)(c)

The Dy. Comm. of I. Tax. has garanted 50% stay and give installments for payments of 50% of penalty.

The first installments were due on 25/05/2009 ,
Now my questions is whether interest is required to pay on the late payments of aforsaid penalty, if yes on what amount and for what period and under what section.
Profile Image

Ratan Sharma

Profile Image

Ratan Sharma (Expert)
26 May 2009 Hi
Interest is payable on the late payment of demand. Whether its a penalty or tax there is no difference. Interest is payable u/s. 220(1). Once the demand is created u/s. 156 then the amount due has to be paid within due date i.e. 30 days. Calculate interest on the amount outstanding after 30 days on installment basis i.e. upto how many months the outstanding is not paid considering the amount of installment paid inbetween.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details