INTEREST ON NET CASH TAX LIABILITY W.E.F 01.07.2017
The article explains the concept of net cash tax liability.
It discusses the interest rate applicable on net cash tax liability.
The interest rate is 18% per annum.
The interest is calculated from the due date of filing the return till the date of payment.
The interest is calculated on the net cash tax liability after deducting TDS and advance tax.
The article also mentions the consequences of not paying the interest on time.
The article concludes by emphasizing the importance of timely payment of net cash tax liability and interest.
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