Where in any financial year,— (a) the company which is liable to pay advance tax under section 208 has failed to pay such tax or— (i) the advance tax paid by the company on its current income on or before the 15th day of June is less than fifteen per cent of the tax due on the returned income or the amount of such advance tax paid on or before the 15th day of September … [Read more...] about Section 234 C – Interest payable for deferment of advance tax
interest payable under income tax act
Section 234 A – Interest payable for default in furnishing the return of income
In simple words, interest @ 1% per month is payable under section 234 A of IT act on the amount of income tax paid after the due date for filing of the return. Due Dates for Filing of Returns For Corporate assessee who are required to furnish report u/s 92E of the IT Act 31st November 2013 For all other Corporate assessee. 30th September 2013 For non … [Read more...] about Section 234 A – Interest payable for default in furnishing the return of income