Waiver of Interest and Penalties:
- Eligibility for Waiver:
- If a person pays the full tax amount due based on notices or orders from Section 73, for the period from July 1, 2017, to March 31, 2020, by a date specified by the government, they can avoid paying interest and penalties. The tax proceedings will be considered resolved.
- Conditions for Waiver:
- If Notices/Orders Under Review: Any orders or notices in review (under Section 74, Section 75, or related appeals) will be treated as eligible for this waiver if the additional tax amounts are paid within three months from the higher authority’s order.
- Refunds: No refund is available for interest and penalties already paid.
- Exclusions:
- The waiver does not apply to taxes due to erroneous refunds.
- The waiver does not apply if there is an ongoing appeal or court case that hasn’t been withdrawn by the specified date.
- Appeals:
- Once proceedings are concluded under this section, no further appeals can be made regarding the related orders.