https://www.taxtmi.com/acts?id=4095 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. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 23 Jul 2025 12:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4095 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. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4095