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The Interest Tax Act, 1974 is an Act that imposes a special tax on interest accrued in specified cases. The Act applies to the whole of India, including all the States and Union Territories with no exceptions. The Act is no longer applicable with regards to chargeable interest accruing after 31 March 2000. ==Interest Tax Act == The Interest Tax Act of 1974 governs the tax process associated with the imposition and collection of Interest Tax in situations specified under its various sections. The Act applies to all Scheduled Banks that are required to pay tax on the chargeable interest amounts they have on their deposits. This Interest Tax is required to be charged at the rate of 7% (Seven percent) of the amount of chargeable interest. This was modified to 3.5% (Three and a half percent) for Interest accrued since 31 March 1983, 3% (Three percent) subject to certain conditions since 31 March 1992, 2% (Two percent) since 31 March 1997, and no Interest Tax accruing or arising after 31 March 2000. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Interest Tax Act, 1974」の詳細全文を読む スポンサード リンク
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