Section 234B interest
Section 234B charges 1% per month simple interest for not paying at least 90% of the assessed tax as advance tax, computed from 1 April of the assessment year until payment.
Formula
Interest = shortfall × 1% × months (from 1 Apr to payment)
Related terms
General information, not tax, legal or accounting advice. Thresholds and timelines change by notification — confirm applicability with your CA, CS, or lawyer.
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