72. (1) The Government shall pay simple interest at ¹[ten per cent] per annum on the amount by which the aggregate sum of advance tax paid during a financial year exceeds the amount of tax payable by him as determined on regular assessment. (2) The period for which interest under sub-section (1) shall be payable shall be the period from the ²[first day of July of the year of assessment] to the date of regular assessment in respect of the income of that year or a period of two years from the said ³[first day of July], whichever is shorter.