I could not pay demand for paucity of funds. The interest part of the demand is huge now. I am not in postion to pay such demand .What to do?

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Sure, you can apply before Commissioner of Income tax or Chief Commissioner of Income Tax , on plane paper u/s 220(2A) which says :”Chief Commissioner or Commissioner may reduce or waive the amount of interest paid or payable by an assessee under the said sub-section if he is satisfied that (i) payment of such amount