Income Tax: The CBDT has clarified that the authority prescribed (i.e. CCIT/DGIT/Pr.CCIT) is empowered to pass an order for a waiver after the date of issue of the said Circular No. 5/2025. Applications for the waiver of interest can be entertained within one year from the end of the financial year for which the interest is charged. (02.07.2025)

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Income Tax:

The CBDT has clarified that the authority prescribed (i.e. CCIT/DGIT/Pr.CCIT) is empowered to pass an order for a waiver after the date of issue of the said Circular No. 5/2025. Applications for the waiver of interest can be entertained within one year from the end of the financial year for which the interest is charged.

(CIRCULAR NO. 8/2025 dated 1.7.25)