The CBDT has clarified pertaining to the waiver of interest levied under Section 201(1A)(ii) (for non-deduction/payment of TDS) and Section 206C(7) (for non- collection/payment of TCS) of the Income Tax Act, that designated authorities (CCIT/DGIT/Pr.CCIT) are empowered to pass waiver orders from the date i.e. 28thMarch 2025, the Circular No. 5/2025 was issued. It confirms that applications for interest waiver can be entertained for interest charged even before the issuance said circular. The applications must adhere to the existing timeline, allowing taxpayers to apply within one year from the end of the financial year for which the interest was charged. Thus, interest pertaining to FY 2023-24 can have a waiver application filed by March 31, 2025.