[7B. Interest payable by Government.--The Central Government shall pay simple interest at [fifteen per cent.] per annum on the amount by which the aggregate sum of any installments of advance tax paid during any financial year in which they are payable under section 7A exceeds the amount of the tax determined on regular assessment, from the 1st day of April next following the said financial year to the date of the regular assessment for the assessment year immediately following the said financial year.]
Section 7B: Interest payable by Government.
The Companies (Profits) Surtax Act, 1964Central Act · Act 7 of 1964
Where this provision sits
| Act | The Companies (Profits) Surtax Act, 1964 |
|---|---|
| Section | 7B |
| Marginal note | Interest payable by Government. |
| Jurisdiction | Central |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- inserted, Act 16 of 1981. . Ins. by Act 16 of 1981, s. 36 (w.e.f.1-4-1981).
- substituted, Act 67 of 1984. . Subs. by Act 67 of 1984, s.77, for "twelve per cent." (w.e.f. 1-10-1984).
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