Finance Ministry issues corrigendum to Income Tax Bill on advance tax interest

The Finance Ministry has issued a corrigendum to the Income Tax Bill, 2025, clarifying the interest applicable on short payment of advance tax. The amendment specifies a 3 per cent interest rate on such shortfalls, bringing the clause in line with provisions under the Income Tax Act, 1961.

Leave a Comment

Leave a Reply

Your email address will not be published. Required fields are marked *