Interest u/s220(2)
This query is : Resolved
19 January 2018
ON WHICH GROUND IT IS COMPULSORY TO PAY
19 January 2018
If you have paid the amount on which interest u/s 220 is levied then you are suppose to pay this interest also.
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20 January 2018
You may also file an application to higher authorities for waiver depending upon the facts of your case.
20 January 2018
If the taxpayer fails to pay the amount specified in any notice of demand issued
under section 156 within the period as allowed in this regard, then the assessee
shall be liable to pay interest under section 220(2).
under section 156 within the period as allowed in this regard, then the assessee
shall be liable to pay interest under section 220(2).
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