Interest u/s 234A Accrues from Due Date until Full Tax Payment: ITAT

The Income Tax Appellate Tribunal (ITAT) has ruled that interest under section 234A of the Income Tax Act is applicable from the due date of filing the tax return until the full payment of tax. This decision clarifies that interest accrues during the period of delay in payment of taxes and continues until the tax liability is completely discharged. The ruling emphasizes that taxpayers who delay payment of taxes must account for interest charges, ensuring compliance with tax payment deadlines. It reinforces the importance of timely filing and payment for taxpayers to avoid additional financial liabilities.