Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES (From Section 115QA to Section 115QC)
Part C - Procedure for filing of return in respect of fringe benefits, assessment and payment of tax in respect thereof (From Section 115WD to Section 115WM)
Chapter XX-B - REQUIREMENT AS TO MODE OF ACCEPTANCE, PAYMENT OR REPAYMENT IN CERTAIN CASES TO COUNTERACT EVASION OF TAX (From Section 269SS to Section 269TT)
Interest for default in advance tax: assessee must pay monthly simple interest on any shortfall until income determination. Where an assessee liable for advance tax pays less than the required proportion, simple interest is chargeable monthly from the first day of April following the financial year until determination of total income or regular assessment, on the assessed tax or on the amount of shortfall; assessed tax is defined with reductions for tax deducted or collected at source and specified reliefs and credits.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest for default in advance tax: assessee must pay monthly simple interest on any shortfall until income determination.
Where an assessee liable for advance tax pays less than the required proportion, simple interest is chargeable monthly from the first day of April following the financial year until determination of total income or regular assessment, on the assessed tax or on the amount of shortfall; assessed tax is defined with reductions for tax deducted or collected at source and specified reliefs and credits.
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