|
The Central Board of Direct Taxes (CBDT) has clarified the rules for waiving interest on certain income tax demands arising from corrections (rectifications) in previously filed returns. This comes as relief for taxpayers who may face interest charges due to such corrections.
Interest will be waived for taxpayers who pay the revised tax demand arising from such rectifications on or before December 31, 2025.
If the demand is not paid by the deadline, interest under section 220(2) will apply from the next day after the normal due date.
|
