Payment of Interest is defined under section 80 of Land Acquisition Act 2013. Provisions under this Section is:
Section 80 of Land Acquisition Act 2013 "Payment of Interest"
When the amount of such compensation is not paid or deposited on or before taking possession of the land, the Collector shall pay the amount awarded with interest thereon at the rate of nine per cent. per annum from the time of so taking possession until it shall have been so paid or deposited:
Provided that if such compensation or any part thereof is not paid or deposited within a period of one year from the date on which possession is taken, interest at the rate of fifteen per cent. per annum shall be payable from the date or expiry of the said period of one year on the amount of compensation or part thereof which has not been paid or deposited before the date of such expiry.
Section 61 Proceedings before authority to be judicial proceedings
Section 62 Members and officers of authority to be public servants
Section 63 Jurisdiction of civil courts barred
Section 64 Reference to Authority
Section 65 collectors statement to authority
Section 66 Service of notice by authority
Section 67 Restriction on scope of proceedings
Section 68 Proceedings to be in public
Section 69 Determination of award by authority
Section 72 Collector may be directed to pay interest on excess compensation
Section 74 Appeal to High Court
Section 75 Particulars of apportionment to be specified
Section 76 Disputes as to apportionment
Section 77 Payment of compensation or deposit of same in authority