Waiver of Interest U/s 234 & 220

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This query is : Resolved

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This discussion addresses the possibility of waiving outstanding interest charges under sections 234A, 234B, 234C, and 220 for specific assessment years, even after the principal tax has been paid. While direct waiver by the department is generally not permitted by law, the assessee is advised that an appeal might be unsuccessful. However, exploring a revision under section 264 is suggested as a potential alternative.

Piyush

Piyush (Querist)
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17 January 2020 There is an outstanding demand in respect of Interest u/s 234 A,B & C for AY 0910,1011,1112 &1213 on the income tax portal & a notice came to the assessee for payments towards the same along with interest u/s 220 on the same.

Can the same be waived off by the department directly as Tax component has been paid off & now only interest is pending or is it viable to go for appeal on the same.