Description:
Interest payable for delayed payment of tax is attracted from the date on which the liability to pay tax arose and not from the date of Assessment is made.
Source:
1. www.icaihyd.org
2. HYDERABAD BRANCH OF SIRC NEWSLETTER. Volume no.13. Issue no.06. June 2011. page no. 6.
Our comment:
Interest for the delayed payment of taxes arises on the date of liability and not from the of Assessment is not good if there is a difference of information during the Assessment proceedings
