Section 160 - Levy of Interest for Failure to Pay Advance Tax
Without prejudice to the provisions of section 157, if it is observed during the regular assessment of tax in respect of any person liable to pay advance tax, that advance tax has not been paid in accordance with the provisions of this Part, the consequences to the defaulting taxpayer under section 157 , simple interest shall be calculated thereon at the rate and for the period prescribed in section 162 along with the tax assessed on the basis of such assessment.
Note: This is unofficial English translation. In the event of a conflict between the information on this website and the original Government publications or notifications of laws, rules, regulations, and SROs, the Government publications or notifications shall prevail. Moreover, as per Section 345(2) of the Income Tax Act 2023, if there is a conflict between the English and Bengali text, the Bengali text shall prevail.