Waiver of interest under sec 234b and 234c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 February 2013
Does the assessing officer have any powers to waive off interest liability arising under sec 234 b and c?
has there been any precedence of such waivers?
Thanking in advance
has there been any precedence of such waivers?
Thanking in advance
23 February 2013
The reduction or waiver of interest liability under 234A, 234B and 234C is dealt under a CBDT notification issued on 26 June 2006 - Direct Tax Order No. 400-29-2002 dated 26 June 2006
You may refer to the same for further information.
As a heads up - the assessee is required to file return and pay off the dues before claiming for such reduction or waiver.
You may refer to the same for further information.
As a heads up - the assessee is required to file return and pay off the dues before claiming for such reduction or waiver.
23 February 2013
CBDT directed vide order dt 2 June 1994 that a return changed due to order of court, appeal revision of provision, assessment order than interest u/s 234A, 234B and 234C can be waived by the Chief commissioner/Director General subject to condistions:
1 relevant income is disclosed
2 tax to such income has been paid
1 relevant income is disclosed
2 tax to such income has been paid
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