অগ্রিম কর পরিশোধের ক্ষেত্রে ঘাটতি থাকিলে উহার উপর করদাতা কর্তৃক সুদ প্রদেয়

(1) Where in any financial year the taxpayer pays advance tax based on his own assessment and tax is deducted at source under this section, if the aggregate of such tax deducted and such advance tax is less than 75% (seventy-five percent) of the tax payable as determined by regular assessment of tax, but in that case, shall pay simple interest at the rate of 10% (ten percent) per annum on the difference between the total tax so paid and 75% (seventy-five percent) of the tax payable as determined by regular assessment of tax, but in that case, shall pay simple interest at the rate of 10% (ten percent) per annum on the difference between the total tax so paid and 75% (seventy-five percent) of the tax arising by way of regular tax assessment: 

Provided that the rate of interest shall be 50% (fifty percent) higher if the return is not filed on or before the Tax Day.

(2) The period for which the interest under sub-section (l) is payable shall be the period from the first day of July next following the financial year in which the advance tax was applicable to the date of regular assessment in respect of the income of that year or a period of 2(two) years from the said first day of July, whichever is shorter.

(3) Notwithstanding anything contained in sub-sections (l) and (2), where-

(a)   tax is paid under section 173; or

(b)   provisional assessment has been made under section 185 but regular assessment has not been made, the simple interest shall be calculated in accordance with the following provisions-

(i) up to the date or dates on which tax under section 173 or as provisionally assessed, was paid;

(ii) thereafter, such simple interest shall be calculated on the amount by which the tax so paid falls short of the said 75% (seventy five percent) of the assessed tax.

(4) Where, as a result of appeal, revision or reference, the amount on which interest was payable under subsection (l) has been reduced, the amount of interest payable shall be reduced accordingly and the excess interest paid, if any, shall be refunded together with the amount of tax that is refundable.

(5) For the purpose of this section, "regular assessment" includes the acceptance of revised return or the assessment made as a result of the audit under section 182.

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