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what is the rate of interest when an assesse paid tax after
the due date in the prescribed time limit?

Question Posted / anchit saxena


what is the rate of interest when an assesse paid tax after the due date in the prescribed time li..

Answer / Upma Varshney

In India, if a taxpayer pays taxes after the due date but within the prescribed time limit, they are liable to pay late fees in addition to the original tax amount. However, the rate of interest for late payment varies depending on various factors such as the type of tax (income tax, GST, etc.), the duration of delay, and any exemptions or concessions provided by law. It's recommended to consult with a tax professional or refer to the official income tax website for more specific information.

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