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The Central Government sets a new payment deadline of 31 January 2020 for persons who made a declaration under the Finance Act 2016 but missed the earlier payment due date. The affected persons must pay the tax, surcharge, and penalty along with interest. The interest rate is one percent for every month or part of a month. The interest period starts from the day immediately following the earlier due date and ends on the payment date. This notification comes into force with effect from 1 June 2016.
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2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 13th December, 2019 S.O. 4455(E).—In exercise of the powers conferred by the proviso to sub-section (1) of section 187 of the Finance Act, 2016 (28 of 2016), the Central Government hereby specifies that the persons who have made a declaration under sub-section (1) of section 183, but have not made payment of the tax and surcharge payable under section 184 and penalty payable under section 185 of the said Act, in respect of the undisclosed income, on or before the due date notified by the Central Government vide notification number S.O. 1830 (E), dated the 19th May, 2016, (as subsequently amended vide notification number S.O. 2476 (E), dated the 20th July, 2016), may make the payment of such amount on or before the 31st day of January, 2020, along with interest on such amount, at the rate of one per cent. for every month or part of a month comprised in the period commencing on the date immediately following the said due date as so notified and ending on the date of such payment.
[Notification No. 103/2019/F. No. 370149/159/2019-TPL] ANKUR GOYAL, Under Secy.
Explanatory Memorandum.—It is hereby certified that no person is being adversely affected by giving retrospective effect to this notification.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054. MANOJ KUMAR VERMA Digitally signed by MANOJ KUMAR VERMA Date: 2019.12.13 18:44:31 +05'30'
