CBDT's new guidelines for I-T interest waiver
The New Indian Express|November 06, 2024
THE Central Board of Direct Taxes (CBDT) on Tuesday announced new guidelines aimed at providing relief to taxpayers regarding the waiver and reduction of interest payable under Section 220(2) of the Income-tax Act.
MONIKA YADAV
CBDT's new guidelines for I-T interest waiver

As per the circular, tax officials at different levels will have authority to either waive off or reduce interest payable by a taxpayer, subject to conditions. The circular is effective immediately. As per the Income Tax Act, taxpayers who fail to pay the amount specified in a notice of demand will incur simple interest at a rate of 1% per month for any delay in payment. However, the CBDT has established specific monetary limits for income-tax authorities regarding the granting of waivers or reductions on this interest.

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Charlize Theron joins Christopher Nolan's next
The New Indian Express

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1 min  |
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The New Indian Express

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1 min  |
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'The ocean unites us
The New Indian Express

'The ocean unites us

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2 minutos  |
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The New Indian Express

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2 minutos  |
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Spilling the tea on a beloved BEVERAGE
The New Indian Express

Spilling the tea on a beloved BEVERAGE

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2 minutos  |
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The New Indian Express

Of human bondage

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2 minutos  |
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The New Indian Express

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A closeup shot of a girl reflecting in front of a mirror, a time-freezing shot of girls jumping in a circle joining hands, another zoomed-in picture of a girl in a kitchen, a medium shot of one in the living room posing with her parents, a portrait of a girl wearing a dark-coloured T-shirt, hair braided, a silver chain, and a beaming smile.

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3 minutos  |
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The New Indian Express

Unpacking a shifting identity

A push towards rigidity

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The New Indian Express

BRATMAN BRINGS THE LAUGHS!

The Little Theatre is gearing up for this year's Christmas Pantomime, and they are bringing Batman, Robin, Joker, and Gotham city to the stage with Bratman

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3 minutos  |
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Coach says youngest IPL star Vaibhav preparing for top-level grinds since he was 7
The New Indian Express

Coach says youngest IPL star Vaibhav preparing for top-level grinds since he was 7

VAIBHAV Suryavanshi, 13, created history on Monday as he became the youngest player to earn an IPL deal worth ₹1.10 crore.

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2 minutos  |
November 27, 2024