Interest being compensatory in nature, it is mandatory. Further, Section 50 uses the word ‘shall’ which also indicates that interest is mandatory.
(ICAI FAQ PUBLICATIONS 06-09-2017 TAX PAYMENTS, INTEREST PENALTY AND OTHER AMOUNTS: FAQ NO. 37)
ॐ असतो मा सद्गमय
Interest being compensatory in nature, it is mandatory. Further, Section 50 uses the word ‘shall’ which also indicates that interest is mandatory.
(ICAI FAQ PUBLICATIONS 06-09-2017 TAX PAYMENTS, INTEREST PENALTY AND OTHER AMOUNTS: FAQ NO. 37)