The Jharkhand High Court has held that interest under Section 234B of the Income Tax Act has to be charged on the assessed income and not on the returned income.The bench of Justice Rongon Mukhopadhyay and Justice Deepak Roshan has observed that, as per Section 234B, interest has to be charged on an amount equal to the assessed tax or, …
How do you create wealth? With more time for your investment to earn interest and for that interest to further generate additional interest, the compounding effect strengthens in your favour. If the same investment compounded interest quarterly, you would earn Rs 12.50 in interest each quarter, or Rs 50 after one year. If you invest for 20 years, the investment …
While upholding the additional compensation per Are granted by a Reference Court under the Land Acquisition Act, 1894, Madras High Court has held that interest for Solatium is a mandatory component as per Section 28 of the Act.The single Bench of Dr Justice G. Jayachandran was hearing a batch of appeal suits preferred by Oil and Natural Gas Corporation Limited. …
