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of <h1>Interest Payments Required for Deferred Advance Tax Under Section 234C; Exceptions for Sections 44AD(1) and 44ADA(1)</h1> Section 234C of the Income Tax Act mandates interest payments for deferred advance tax installments. Assessees, except those declaring profits under sections 44AD(1) or 44ADA(1), must pay interest at 1% per month if advance tax payments fall short of specified percentages by certain dates: 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15. Exceptions apply for shortfalls due to underestimated capital gains, specific income types, or first-time business income. Assessees under sections 44AD(1) or 44ADA(1) must pay interest if March 15 payments are less than the tax due.
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