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of <h1>Finance Bill 2017 amends Section 234C on advance tax interest, adds exception for dividends over ten lakh rupees.</h1> Clause 74 of the Finance Bill, 2017, amends section 234C of the Income-tax Act concerning interest on deferred advance tax. It modifies the references for assessees under sections 44AD and 44ADA, specifying that interest applies if advance tax paid by March 15 is less than the tax due on returned income. Additionally, it introduces an exception for income exceeding ten lakh rupees from certain dividends under section 115BBDA, exempting it from interest under section 234C. These changes are effective from April 1, 2017, applicable to the assessment year 2017-2018 and onwards.
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