COMMISSIONER OF INCOME-TAX versus RANOLI INVESTMENT (P.) LTD.
Advance tax interest, which is assessed through review, means that the recipient of the tax deduction in section 215 (1) defines tax deductions, does not deduct tax at the time of payment of tax interest under interest 194A but in the financial year. It deducts and pays such taxes after the ITO. 1) After deducting the original tax deducted from source under section 194. Under section 215 (1) of the Indian Income Tax Act, 1961, section 191, 194a, 201 (1a), 209a, deduction of income on interest should not be allowed on interest. & 215
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