Finance Ministry Issues Corrigendum to IT Bill, Clarifies Interest on Advance Tax Short-Payment

Last updated: 14 August 2025

The Finance Ministry has issued a corrigendum to the Income-tax (No. 2) Bill, 2025, bringing clarity to the provisions for charging interest on shortfalls in advance tax payments. The update, issued on August 11, 2025, aligns Clause 425 of the Bill with the existing rules under the Income-tax Act, 1

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Category Income Tax   Report

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