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Section 115P: Interest payable for non-payment of tax by domestic companies

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

Interest payable for non-payment of tax by domestic companies.

Where the principal officer of a domestic company and the company fails to pay the whole or any part of the tax on distributed profits referred to in sub-section (1) of section 115-O, within the time allowed under sub-section (3) of that section, he or it shall be liable to pay simple interest at the rate of one per cent for every month or part thereof on the amount of such tax for the period beginning on the date immediately after the last date on which such tax was payable and ending with the date on which the tax is actually paid.

Where this provision sits

ActThe Income-tax Act, 1961
Section115P
Marginal noteInterest payable for non-payment of tax by domestic companies
JurisdictionCentral
StatusRepealed

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