An assessee is required to make payment of interest where he failed to make the payment of demand before the expiry of 30 days from the service of notice of demand @

CS Executive · Tax Laws and Practice · PYQS · December 2015
An assessee is required to make payment of interest where he failed to make the payment of demand before the expiry of 30 days from the service of notice of demand @
(A) 1% for every month or part thereof till the date of payment
(B) 2% p.m. till the date of payment
(C) 1.5% p.m. till the date of payment
(D) 1.25% for every month or part thereof till the date of payment.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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