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CBDT to waive interest if tax demand paid in retro cases

CBDT to waive interest if tax demand paid in retro cases

Sunday, March 26, 2017, 7:14 PM

The Tax department will waive interest liability if the principal demand of capital gains tax is paid by companies like Cairn India and Vodafone. CBDT issued a circular for waiver of interest in disputed-tax demand in different scenarios. In cases where tax-liability arose because of retrospective-amendment to the law or a court ruling, the interest payable on the demand will be waived, it said.
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