sir;
we have received tds default notice. we paid fee payable us 234F as per demand notice. Now again demand notice received with interest us 220(2). how to waive off this interest ? only commissioner has the authority to waive off or AO can also waive off this ?
If the required amount was paid within the specified time limit as per the demand notice, the interest u/s. 220(2) would not have been charged.
But if it was paid later than the time limit, then interest is chargeable.
Anyway, Your Jurisdictional ITO has authority to reduce the interest or nullify it, based on your appeal.
CAclubindia
