CBDT clarifies on payment of the tax and surcharge along with the interest on such amount

Dec 18, 2019 | by Avantis RegTech Legal Research Team

Finance & Taxation Compliance

The Central Board of Direct Taxes (CBDT) on December 13, 2019, specifies that the persons who have made a declaration, but have not made payment of the tax and surcharge payable and penalty, in respect of the undisclosed income, on or before the due date notified by vide Notification No. S.O. 1830 (E), dated May 19, 2016, may make the payment of such amount on or before January 31, 2020, along with interest on such amount, at the rate of one per cent. for every month or part of a month comprised in the period commencing on the date immediately following the said due date as so notified and ending on the date of such payment.

This notification shall be deemed to have come into force with effect from June 01, 2016.

Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this Notification.

[Notification No. S.O. 4455(E)]


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