sec 75 - interest on late payment
as per the sec - if payment is made after due date , int has to be paid u/s75 on
* amt of tax liable to be paid
* for the period for which such amt of tax or part therof is delayed.
govt. shall fix rate of interest not less than 10% p.a but not more than 36%p.a. presently rate of int. is 13%p.a.
i want to ask------ if thr is delay of 1 day in payment thn also is int charged for the whole year????????/
pl reply............
CAclubindia
