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Penalty interest, also called penalty APR (penalty annual percentage rate), [1] default interest, interest for/on late payment, statutory interest for/on late payment, [2] [3] interest on arrears, or penal interest, in money lending and in sales contracts is punitive interest charged by a lender to a borrower if installments are not paid according to the loan terms.
Interest can accrue from the latest of 30 days after the goods are supplied or the service is completed, 30 days after receipt of invoice (or the customer is told the amount due is payable). the agreed date for payment. The "statutory interest" rate chargeable, which is simple and not compound, is the Bank of England base rate plus 8%. The ...
In case of non/late payment of profession tax, penalty will be 10% of the amount of tax. In case of late filing of returns, a penalty of Rs. 1000 per return will be imposed if you filed after due date in 1 month. After 1 month, a penalty of Rs. 2000 will be imposed. [3]
The Late Payment Directive, 2011/7/EU [1] is a Directive of the European Union concerning commercial late payments. It replaced the previous Late Payment Directive 2000/35/EC. [2] Like all European Union directives, this is an instrument which requires member states to enact its provisions in national legislation by 16 March 2013. [3]
Government of Kerala (transferred ownership to the Government of Kerala) [6] 29: Ranchi Ashok Bihar Hotel Corporation: 2020: Government of Jharkhand (transferred ownership to the Government of Jharkhand) [7] 30: Jammu Ashok Hotel Corporation: 2020: Government of Jammu and Kashmir (transferred ownership to the Government of Jammu and Kashmir) [8 ...
Karnataka: Location: Karnataka State Consumer Dispute Redressal Commission, Ground Floor Basava Bhavan Sri Basaveshwara Circle, High Grounds, Shivaji Nagar, Bengaluru, Karnataka 560001. [1] Judge term length: 3 years from the date of entering office or up to 65 years of age (whichever is earlier) Website: https://kscdrc.karnataka.gov.in/english
Municipal Corporations Act is the statutory Acts created for governing of Municipal Corporations across various Indian towns and cities. [1] Municipal Corporation mechanism in India was introduced during British Rule with formation of municipal corporation in Madras in 1688, later followed by municipal corporations in Bombay and Calcutta by 1762. [2]
A 2010 report by the Government of India, on labour whose livelihood depends on agricultural land, claims [21] that, per 2009 data collected across all states in India, the all-India annual average daily wage rates in agricultural occupations ranged between ₹53 and 117 per day for men working in farms (US$354 to 780 per year), and between ...