Interest payable for non-payment of tax by 1e[trust or institution].
Interest payable for non-payment of tax by 8[specified person].
115TE. Where the principal officer or the trustee of the 9[specified person] and the 9[specified person] fails to pay the whole or any part of the tax on the accreted income referred to in sub-section (1) of section 115TD, within the time allowed under sub-section (5) of that section, he or it shall be liable to pay simple interest at the rate of one per cent for every month or part thereof on the amount of such tax for the period beginning on the date immediately after the last date on which such tax was payable and ending with the date on which the tax is actually paid.
10[Explanation.—For the purposes of this section, "specified person" shall have the same meaning as assigned to in clause (iia) of the Explanation to section 115TD.]