If a person responsible for deduction of tax at source, after deduction, fails to deposit the same into the Government treasury, he will be liable to pay interest @ —

CS Executive · Tax Laws and Practice · PYQS · December 2016
If a person responsible for deduction of tax at source, after deduction, fails to deposit the same into the Government treasury, he will be liable to pay interest @ —
(A) 1% per month or part of the month
(B) 1.5% per month or part of the month
(C) 2% per month or part of the month
(D) 15% per annum.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax

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