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of <h1>Clause 425: Pay Interest on Advance Tax Shortfall per Section 404; Rates Range 1%-3% Based on Due Date</h1> Clause 425 of the Income Tax Bill, 2025, mandates that an assessee liable to pay advance tax under section 404 must pay interest on any shortfall if the tax paid by specified dates is less than the required percentage of the tax due on returned income. Interest rates vary from 1% to 3% depending on the due date. Exceptions include underestimation of certain incomes, provided the full tax on these incomes is paid by March 31. The 'tax due on the returned income' is defined as the tax on declared income, minus specified deductions and credits.
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