case of economic hardship and waiver of interest

case of economic hardship and waiver of interest




Income tax law by design has provisions with enabling powers to authorized officers for waiver of interest to provide respite to the taxpayers in genuine hardship cases upon meeting the certain conditions. However such waivers are rare and made on case to case basis meaning therefore that the assessee has to seek them by way of an application to the designated person citing genuine hardship.







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