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Section 115QB: Interest payable for non-payment of tax by company

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Repealed.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 Repealed by the Income-tax Act, 2025, with effect from 1 April 2026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 company.

Where the principal officer of the domestic company and the company fails to pay the whole or any part of the tax on the distributed income referred to in sub-section (1) of section 115QA, 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
Section115QB
Marginal noteInterest payable for non-payment of tax by company
JurisdictionCentral
StatusRepealed
Judgments citing it1

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