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<h1>Interest on advance tax shortfall - shortfall-based interest charged for fixed instalment periods under tax rules.</h1> Interest under section 234C applies when advance tax instalments are below prescribed percentages of assessed tax at specified checkpoints; interest is computed on the difference between the prescribed percentage of assessed tax for each instalment and the tax actually deposited, charged for fixed shortfall periods-three months for intermediate instalments and one month for the final instalment.