Circular No. 08/2025 dated 01.07.2025
Central Board of Direct Taxes (CBDT) issued Circular No. 08/2025 dated 01.07.2025 giving Clarification on CBDT’s Circular No. 5/2025 dated…
Tag: interest waiver
Circular No. 15/2024 dated 04.11.2024
CBDT issued Circular No. 15/2024 dated 04.11.2024 fixing monetary limits of the income-tax authorities in respect of reduction or waiver of interest paid or payable under section 220(2) of the Income-tax Act.
CBDT allows tax officials to waive or reduce interest due from assessee
The Income Tax Department has allowed tax officials to either waive or reduce interest payable by a taxpayer, subject to specified conditions.
Conditional waiver of interest or penalty or both, relating to demands raised under Section 73, for FY 2017-18 to FY 2019-20.
100% waiver from interest and penalty In respect of demand notices issued u/s 73 for the initial three years of GST implementation i.e., FY 2017-18, FY 2018-19 and FY 2019-20.
Smaller companies to be biggest beneficiaries of GST penalty, interest waiver
The GST Council’s decision to waive off interest and penalty under Section 73 will bring in a much-awaited relief for smaller companies facing steep Goods and Services Tax (GST) demand.
GST Council waives interest, penalty on tax demands between FY18 and FY20
The Goods and Services Tax (GST) Council in its Saturday meeting has approved several compliance measures, aiming at reducing tax litigation and enhancing ease of business across the sectors.
Administrative Council Announces Grant of Amnesty To Settle Tax Arrears of Pre-GST Regime
The Administrative Council (AC) which met here under the chairmanship of the Lieutenant Governor, Manoj Sinha approved a proposal of…