Section 7B in The Companies (Profits) Surtax Act, 1964
7B. [ Interest payable by Government.- [Inserted by Act 16 of 1981, section 36]
The Central Government shall pay simple interest at [fifteen per cent] per annum on the amount by which the aggregate sum of any instalments of advance tax paid during any financial year in which they are payable under section 7-A exceeds the amount of the tax determined on regular assessment, from the 1st day of April next following the said financial year to the date of the regular assessment for the assessment year immediately following the said financial year.]
