INCOME TAX2 Sept 2026
Waiver of Interest on Late Tax Demand: Circular 13/2025
The income tax department has issued Circular No. 13/2025 under section 119 of the Income-tax Act. This circular provides for waiver of interest payable under section 220(2) for late payment of demand, but only in certain cases. Taxpayers who have been charged such interest need to check whether their situation falls under these specified conditions to claim relief.
Key Statutory Highlights
- Circular No. 13/2025 has been issued under section 119 of the Income-tax Act.
- It provides for waiver of interest payable under section 220(2).
- The waiver applies to late payment of demand in certain cases only.
Actionable Advice for Taxpayers / Founders:If you have been charged interest under section 220(2) for late payment, review your case to see whether it meets the specified conditions for waiver under Circular No. 13/2025.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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