Advance tax interest: levy extended to presumptive taxpayers where final instalment shortfall exists, with specified dividend income excepted.

Amendments revise references to assessees under the presumptive business and presumptive profession schemes so that interest for deferment of advance tax applies to assessees declaring profits under those presumptive provisions where the advance tax paid by the final instalment date is less than tax on the returned income; the first proviso is expanded to exclude certain dividend-like income from interest liability subject to conditions under the separate tax provision.

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