73A. (1) Where an assessee is required to file a return of income for an assessment year under section 75 and fails to file the same before the expiry of the Tax Day, the assessee shall, without prejudice to any other consequences to which he may be liable to, pay a delay interest at the rate of two percent (2%) per month on the difference between the tax assessed on total income for the assessment year and the tax paid in advance for the assessment year including the tax deducted or collected at source;Explanation.-In this section, the expression “tax assessed on total income” as mentioned in ¹[***] sub-section (1) means-²[(i) where the return is subject to assessment under section 82BB, if tax under any other sub-section of section 82BB is higher than the tax under sub-section (1) of that section, the higher tax;](ii) where the return is not subject to assessment under section 82BB, tax on total income as assessed by the Deputy Commissioner of Taxes.(2) The delay interest under sub-section (1) shall be calculated for a period from the first day immediately following the Tax Day to-(a) where the return is filed, the date of filing the return;(b) where the return is not filed, the date of regular assessment: Provided that the period for calculating delay interest under this section shall not exceed one year: Provided further that the delay interest under this section shall not be payable by an assessee for whom the proviso of sub-section (5) of section 75 applies.]