Interest on voluntary payment by filling DRC-03
This query is : Resolved
Mansi Shah
(Querist)
02 November 2020
Please let me know Interest is compulsory while voluntary payment of tax through DRC-03?
Please let me know the consequence if interest not paid on the same.
Please let me know the consequence if interest not paid on the same.
Lekhraj sood
(Expert)
02 November 2020
Yes, it is mandatory to pay interest on delayed payment of tax. If you do not pay the interest but only pay the tax then you may get (which most likely will happen) show cause notice under section 73 or 74.You may ne levied penalty also.
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