Under Section 220(2A), certain income tax authorities have the power for reduction or waiver of interest, upon satisfaction of certain condition. Reduction or Waiver of Interest: The Central Board of Direct Taxes (CBDT) has recently issued Circular No. 15/2024 on … Continue reading Monetary Limits for Reduction or Waiver of Interest under Section 220(2) of the Income Tax Act: CBDT Circular 15/2024