9911796707
TMI BlogInterest for deferment in instalments of Advance Tax - Section 234CX X X X Extracts X X X X X X X X Extracts X X X X ..... pay such tax or has made late payment of advance tax, then asessee shall pay the interest u/s 234C as under:- Circumstances in which interest is payable u/s 234C Rate of interest Period Amount on which interest is to be paid When advance tax paid on or before 15th June is less than 15% of tax due on returned income Simple interest @ 1% p.m. 3 months 15% of tax due on returned income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t and second Quarter if short payment is upto specified Limit * if the advance tax paid by the assessee on the current income, * on or before the 15th day of June is not less than 12% or, * on or before the 15th day of September is not less than 36% * of the tax due on the returned income, then, the assessee shall not be liable to pay any interest on the amount of the shortfall on those da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder the head "Profits and gains of business or profession" in cases where the income accrues or arises under the said head for the first time or * (d) Dividend Income * Upto 31.03.2021 - income of the nature referred to u/s 115BBDA(1) * From 01.04.2021 - the amount of dividend income. Meaning of Tax due on Return Income Tax on total income declared in ROI XXXX Less: Any relief of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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